Frank was born in Glendale, California to musician Jack Marshall. He entered the film world when his parents invited him to a birthday party for the daughter of directing legend John Ford in 1966. There, he met Peter Bogdanovich and soon agreed to work on his first film, Snigskytten (1968), later followed by collaborating on Sidste forestilling (1971) and many other films.
Continuing to branch out into the industry, he served as line producer on Martin Scorsese's Last Waltz - The Bands sidste koncert (1978) and associate producer on Walter Hill's crime thriller, I storbyens nat (1978). Marshall first worked as executive producer on Hill's cult classic Krigerne (1979). After producing the iconic Jagten på den forsvundne skat (1981), he co-founded Amblin Entertainment with Steven Spielberg and his future wife Kathleen Kennedy.
He continued producing memorable films with Spielberg including Poltergeist (1982) and På grænsen til det ukendte (1983) (while Kennedy separately produced E. T. (1982)). He worked as executive producer on Indiana Jones og templets forbandelse (1984), Gremlins (1984), Goonierne (1985) and the Tilbage til fremtiden (1985) trilogy.
He married Kathleen Kennedy in 1987, and after producing numerous films, he made his feature directing debut with Araknofobi (1990). In 1993, The Kennedy/Marshall Company was formed and released its first film Vi lever (1993), directed by Marshall. His productivity has only increased since then, as he took over primary duties of the production company since Kennedy was named president of Lucasfilm in 2012.
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