Franklin Templeton's retail chief is retiring, and a 20-year company veteran is rising to take his place.

Dan O'Lear Franklin Templeton Investments President

Tom Regner, head of U.S. advisory services at the mutual fund shop, just promoted Dan O'Lear to president of Franklin Templeton Distributors [profile], a spokeswoman for Franklin confirms. O'Lear succeeds 27-year Franklin veteran Peter Jones, who is retiring.

O'Lear, who now reports to Regner, most recently reported to Jones as executive vice president of Franklin Templeton Distributors and head of U.S. retail sales. O'Lear will now oversee defined contribution, private wealth, and retail distribution in the U.S.

Tom Regner Franklin Templeton Investments Head of US Advisory Services

O'Lear is an alumnus of SUNY Oneonta and worked at Kemper Funds and Drexel Burnham Lambert before joining Franklin Templeton 20 years ago.

Jones is an alumnus of Florida State University. 

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