Global investment management firm Franklin Templeton has selected BlackRock’s Aladdin order management system (OMS) to bring together its multi-asset class investment management platform.
The move comes after the firm had been expected to migrate to the cloud version of its existing OMS, Charles River Development (CRD), according to sources.
The mooted migration followed Franklin’s acquisition of Putnam Investments in January 2024, which was set to streamline the firm’s investment operations, sources suggested.
The move to CRD’s cloud offering – available since 2020 – now appears to have been nixed, with the migration to BlackRock’s Aladdin set to begin in fiscal year 2025, and phased over multiple years. One source had noted that the change had been expected to provide Franklin Templeton with a chance to upgrade its OMS functionality.
A number of buy-side CRD clients are adopting its cloud solution, including Japanese asset manager Nomura and institutional investor Federated Hermes in 2021, and, most recently, T. Rowe Price which began the process in April this year.
The Aladdin platform is intended to provide an investment book of record, while maintaining the autonomous investment processes of Franklin Templeton’s specialist investment managers.
A Franklin Templeton spokesperson declined to comment on the switch.
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