Franklin Templeton takes Embark stake amid UK retirement expansion plans

Franklin Templeton has become retirement solutions provider Embark Group's second-largest investor as the asset manager eyes further expansion into the UK's long-term savings market over the next five years. The deal represents a move to "diversify" Franklin Templeton's business model and take a foothold in the UK's "high growth" long-term savings market, as well as grow its brand among consumers, according to UK country head Martyn Gilbey. Gilbey (pictured) told Investment Week that the purchase was a "considered part" of Franklin Templeton's "strategy to diversify our business model...