California-headquartered investment manager Franklin Templeton bolsters its Outsourced Chief Investment Officer services business.

Franklin Templeton has appointed Rich Nuzum (pictured) as head of Outsourced Chief Investment Officer (OCIO) services at Franklin Templeton Investment Solutions (FTIS).

Nuzum will be based in New York and report directly to Adam Petryk, head of Franklin Templeton Investment Solutions, the firm said in a statement.

Effective July 28, Nuzum will lead the development and expansion of the OCIO business at FTIS, building on the growth of the firm’s solutions business over the past several years and the growing demand for OCIO services. The US OCIO market manages $2 trillion in assets, with projections suggesting it will grow to $3 trillion by the end of the year, driven by demand for cost efficiency, specialized expertise and technological innovation.

Nuzum is joining Franklin Templeton from Mercer where he spent more than three decades providing investment consulting advice to institutional investors, with expertise in ESG integration, private markets and multi-asset strategies.

“The OCIO business is a key strategic priority as asset owners seek streamlined operations, top-tier investment expertise, and cost efficiency,” Jenny Johnson, president and CEO of Franklin Templeton said. “Rich’s extensive global, solutions-oriented experience will be instrumental in advancing our OCIO offering. His leadership will help us deliver integrated, personalized advice that goes beyond individual products.”

Franklin Templeton Investment Solutions launched its first strategy in 1996 and, as of June 2025, manages $93 billion in assets with a team of over 100 multi-asset investment professionals. FTIS builds asset allocation, quantitative, and hedged strategy solutions for clients worldwide. The platform implements an integrated investment process and is supported by a manager research team that covers strategies both within and beyond Franklin Templeton.