Fiduciary Trust Company International has announced a change in leadership.

Fiduciary Trust Company International, the wealth management firm and wholly-owned subsidiary of Franklin Resources, has made a string of organizational changes following the departure of its president and chief executive, Henry Johnson.

Lawrence Sternkopf will become president and chief operating officer of Fiduciary Trust, and will continue to oversee operations and technology, as well as custody, tax services, treasury and finance functions. He will take on additional responsibilities for compliance and human resources. 

William Yun, former president of Fiduciary Trust and current board member, will serve as interim chief executive while an external search for a new CEO is underway. Yun will also continue leading Franklin Templeton’s specialized and alternative investment groups.

Meanwhile, Gail Cohen has become chair of Fiduciary Trust’s board of directors, succeeding James Goodfellow. As general trust counsel, Cohen will continue to oversee trust and estate services, as well as client relationship functions.

Lastly, the firm said James Goodfellow will remain on its board and transition his chairman responsibilities to Cohen.

Cohen, Sternkopf and Yun will be supported by the senior management team which includes: Ronald Sanchez, chief investment officer; Carin Leong Pai, director of equity management; Wayne Sprague, director of strategic advisory services; Warwick Carter, national head of trusts and estates; and Elizabeth Hughes, chief compliance officer.