UK/ITALY: The head of Assicurazioni Generali’s London office, Ludovic Bayard, is to return to Italy and be replaced by Andrea Valacchi.

The Italian insurer said Bayard will start a new job at company headquarters in Trieste from May - where he will concentrate on employee benefits.

“It sometimes happens that employees within the company are moved around from one office to another,” a press officer explained.

Valacchi, who already works for Generali, will take over in London.

Generali, was among investors in a newly closed 422 million-euro pan-European infrastructure fund set up by Australia’s Macquarie Bank.