FRANCE - ERAFP, the €4.8bn French civil service supplementary pension scheme, has appointed a new chief executive officer.

A spokesman of the fund confirmed to IPE today Philippe Desfossés will replace Jean-Louis Nakamura as CEO.

The spokesman refused to give any further information at this stage.

But IPE has learnt Desfossés has a background in the insurance industry. It is understood he was formerly director of the central audit office at Axa between 1998 and 2000, and was a director at Compagnie Financiere de Paris, as well as holding the role at one time of bureau head of life assurance at the Treasury.

Nakamura left the fund to join Lombard Odier Darier Hentsch on March 1, but had only been at ERAFP for six months, having joined the scheme from FRR, France's national reserve fund, where he had been chief investment officer.

The French minister for labour, social relations, family and solidarity alongside the minister for budget and public accounts, and the secretary of state for public administration, officially appointed Desfossés on May 28.

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