Templeton International Stock manager Don Reed retiring in January

Don Reed, a veteran portfolio manager and top executive with Toronto-based Franklin Templeton Investments Corp., is retiring at the end of January, the company confirmed today.

A value-style manager in the Templeton tradition, Reed was recruited by the late Sir John Templeton 27 years ago to join what was then called Templeton, Galbraith and Hansberger Ltd. Reed has managed Templeton International Stock since December 1989, as well as Templeton International Stock Corporate Class since its inception in June 2001.

Reed's portfolio-management roles will be transitioned to managers with the Toronto-based Templeton Global Equity Group. Morningstar has learned that Reed's successor as lead manager will be Peter Moeschter. The affected funds will continue to be managed according to a bottom-up value discipline.

After Jan. 31, Reed will become a non-executive chairman and will remain on the boards of Templeton Growth Fund, Ltd. and Franklin Templeton Corporate Class Ltd.

Though Reed is also president and CEO of Franklin Templeton Investments, his executive roles have largely already been assumed by managing director Duane Green, who has headed Franklin Templeton's Canadian distribution business since October 2015. Green will assume the additional titles of president and CEO when Reed retires.

Reed first became a portfolio manager with Montreal Trust in his native Montreal in 1975, managing personal trusts and estates before transferring to the firm's Toronto office two years later to manage institutional accounts. In 1982, he became co-founder of Reed, Monahan, Nicholishen Investment Counsel before joining the Templeton organization in 1989.