King & Spalding advises Franklin Templeton to launch in Saudi Arabia

King & Spalding LLP acted as counsel to Franklin Templeton to launch operations in Saudi Arabia through the establishment of a financial services company based in Riyadh and regulated by the Saudi Arabia Capital Market Authority. The new company, Franklin Templeton Financial Company, obtained licenses to carry out asset management and advisory services in the Kingdom. King & Spalding advised Franklin Templeton on various structuring and regulatory aspects related to its establishment in the Kingdom in addition to the successful applications to the Capital Market Authority, the Ministry of Investment and the Ministry of Commerce. With USD1.6 trillion in assets under management, Franklin Templeton is one of the world’s largest global asset management companies.

The King & Spalding team advising Franklin Templeton was led by partner James Stull and included partner Nabil A. Issa, senior associates Sayf Shuqair and Saud Aldawsari, and associates Jamie Kershaw, Meshaal Alyahya, Husam Alhmary and Husni Al-Far.