Franklin Templeton has struck a deal to acquire a $1.1 billion investment management firm in Mexico. Heyman y Asociados, led by Timothy Heyman will become part of Franklin Templeton Asset Management Mexico, Franklin Templeton's mutual fund management company in Mexico.

As part of the deal, Heyman will become chief executive officer of a new institutional investment management subsidiary Franklin Templeton Servicios de Asesoría Mexico. Heyman will also become chairman and a member of the board of Franklin Templeton Asset Management Mexico.

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