EUROPE – Dominique Carrel-Billiard is to take over from Nicolas Moreau as chief executive of AXA Investment Managers.

Moreau, 40, will take over as group chief executive of AXA UK from the retiring Dennis Holt as of June 30.

Carrel-Billiard, also 40, is currently senior vice president of business support and development for AXA’s asset management, US insurance activities and reinsurance.

He joined the company in 2004 from consulting firm McKinsey & Co, where he was a partner.

Moreau will also become non-executive chairman of AXA IM, replacing Donald Brydon - who stays as a director.

Moreau is also to step down as chairman of the Forum of European Asset Managers, the industry group that emerged after the failed merger of the European Asset Management Association and funds body FEFSI (now EFAMA).

An AXA spokesman said the chairmanship of FEAM is revolving, although Moreau would stay on the board. “Nicolas' time as chair is coming to an end, and an announcement on his successor will be made soon,” the spokesman said.

AXA chairman Henri de Castries said: “We are grateful to Dennis Holt for his achievements at AXA UK over the past five years which strengthened AXA UK’s operations and clearly positioned it as a key component of our global strategy in Europe.

“Nicolas Moreau’s mission will be to build upon these achievements and roll out a profitable growth strategy in line with our 2012 ambition to become the preferred company in our industry.”