FRANCE – Charles Vaquier, chief executive at the €10.2bn French pension fund UMR, is to step down at the end of March.

Vaquier, who has served as chief executive at UMR since December 2002, will leave the pension fund on 31 March and start a new part-time role as an associate for an actuarial consultancy in Paris.

Vaquier told IPE UMR's supervisory board was currently looking for a replacement but had not yet found a suitable candidate.

"The board is seeking to recruit someone outside UMR and would even be ready to appoint an acting director until they recruit a permanent CEO," he said.  

Vaquier started his career at French insurance company AG2R La Mondiale in 1975.

In 1986, he joined Groupe Henner (GMC), looking after the management of group insurance, before starting a new role as director of group insurance for Winterthur International in 1997.

Vaquier then became general director of Winterthur before joining UMR in 2002.