WAMCO

Franklin Resources Slashes Workforce Amid WAMCO Outflows

2 months ago

Financial services giant Franklin Resources, widely known for its investment management firm Franklin Templeton, has made the strategic decision to reduce its workforce by approximately 3%. This decision comes in light of significant outflows from its subsidiary, the Western Asset Management Company (WAMCO), which has been struggling to retain client assets. The layoffs reportedly affect over 100 employees and are part of a broader effort by the company to streamline operations and address declining revenues.

Franklin Templeton's Strategic Revamp Amidst Massive Outflows

2 months ago

In a significant turn of events, Franklin Templeton is undertaking a major restructuring initiative in response to an alarming $120 billion in outflows from its WAMCO division. This dramatic shift highlights the pressures and competitive challenges facing asset management firms in today’s volatile market.

WAMCO's Ken Leech Enters Not Guilty Plea in Major $600 Million Fraud Case

4 months ago

In a dramatic turn of events within the financial industry, Kenneth Leech, the President and Chief Executive Officer of WAMCO, has pleaded not guilty to serious charges in a staggering $600 million fraud case. The allegations against him have sent ripples through the market and raised eyebrows among investors and stakeholders alike.

Wamco’s Ken Leech Secures $10 Million Bail Amid U.S. Fraud Charges

4 months ago

In a significant development in the ongoing legal saga involving Wamco’s CEO, Ken Leech, a federal judge has granted him bail set at $10 million while he faces serious fraud allegations in the United States. This decision comes in response to the charges that accuse him of orchestrating a fraudulent scheme that allegedly resulted in substantial financial losses.

Allegations of Cherry-Picking Fraud Emerge at WAMCO Involving Ken Leech and IBM

4 months ago

In a significant development that has raised eyebrows in the financial sector, Ken Leech, the former Chief Investment Officer at WAMCO, is under scrutiny for allegedly engaging in cherry-picking practices that benefited technology giant IBM. The accusations suggest that Leech and others at WAMCO might have manipulated investment strategies to boost returns specifically tied to IBM stocks, raising concerns about the integrity of their trading practices.

Franklin Shares Plummet Amidst $53 Billion Outflows from WAMCO and CFTC Investigation

5 months ago

In a turbulent turn of events for Franklin Templeton Investments, the financial giant experienced a significant downturn in its share price following reported outflows of $53 billion from its WAMCO (Western Asset Management Company) subsidiary. The outflows have raised eyebrows in the industry, particularly amidst a looming investigation by the Commodity Futures Trading Commission (CFTC) into the firm’s trading practices. This unsettling combination has placed Franklin Templeton under intense scrutiny from investors and analysts alike.