Professional Bio

Thomas C. Merchant is general counsel of Franklin Templeton, where he oversees the company’s global Legal, Compliance, Internal Audit, and Luxembourg fund operations functions. These departments comprise nearly 500 employees worldwide. Before assuming this role, he was deputy general counsel and head of compliance, responsible for global regulatory compliance, internal audit, and multiple legal departments.

Merchant joined Franklin Templeton in 2020 following its acquisition of Legg Mason, Inc., where he had served as general counsel. During his twenty-two years with Legg Mason, he directed legal activities involving acquisitions, financings, and corporate reporting, and led more than twenty-five transactions, including the landmark $3.7 billion exchange of its retail brokerdealer business for Citigroup’s global asset management unit. Earlier in his career, Merchant was a corporate associate at Shearman & Sterling in New York. He earned a JD from New York University School of Law. Merchant and his wife, Jill (Business ’90), have three children and remain active supporters of Penn State.