FRANCE – IXIS Asset Management is set to announce the appointment of a new chief investment officer and general secretary next week, IPE has learnt.
The new CIO will replace Roland Calvo, who joined Natexis Asset Management at the end of 2004. This resignation followed a restructuring that took place throughout last year.
Changes in its share ownership made the group the asset management arm of CDC. It has since become the asset management subsidiary of Caisse d’Epargne group.
Fitch Ratings says the new management would increase the group’s stability. Earlier this week, Fitch removed IXIS AM from ‘Rating Watch’ and restored its AM2 rating.
“Fitch has taken comfort from the information provided showing that the stability of the organisation has been restored,” said the report.
“The asset management company has discontinued its European equities’ high tracking error process, restructured its European equity fund management process and team, and launched total return on quantitative products.”
However, Fitch admitted that it will continue to monitor IXIS AM’s profitability, domestic sales, workforce stability and the creation of a solid research team within the asset management group – reasons for the surveillance, and critical for stability and development.
The appointment of Pascal Voesen in March to chief executive and chairman of the executive board has done much to restore stability to the organisation’s management team, said Fitch.
Until now, Voesen has also been assisting with the chief investment officer role, said spokesperson Christian Silianoff.