Amundi is rebooting its senior leadership team in a bid to simplify its organisation and strengthen client support in focus areas like retirement, the company announced earlier today.
Vincent Mortier, deputy chief investment officer, is to lead a strengthened investment operation that includes private markets and passive. Mortier previously mainly focused on active investment.
Francesca Ciceri takes over responsibility for institutional clients from Jean-Jacques Babéris, who moves over to become deputy chief executive officer of Caceis, the asset services division of Crédit Agricole, Amundi’s major shareholder.
Cicieri reports to Fannie Wurtz, who now heads a new unified client division, combining both institutional and retail segments. Wurtz previously headed third-party distribution, wealth client coverage and passive management and additionally takes up the role of Asia chair.
Asia is one of Amundi’s key focus regions – the company recently won what it described as a “major DC mandate” with a South Korean Chaebol, in addition to a significant DC mandate with a large German corporate. This came on top of a win last year with Ireland’s new national auto-enrolment DC pensions platform, as well as multiple mandates with the UK’s NEST master trust.
In a medium-term plan announced earlier this year, Amundi highlighted its focus on the European retirement markets of UK, Germany, Benelux and the Nordic region. The plan envisages a cumulative net inflows of €300bn for the years 2025-28, of which €100bn is targeted in the retirement segment.
Elswhere, Alexandre Lefebvre assumes responsibility for private assets and alternatives, as Dominique Carrel-Billiard leaves Amundi, stepping down as head of real and alternative assets.
Last November, Amundi announced a long-term strategic partnership with alternatives and private markets asset manager ICG, taking a 9.9% stake and a board seat. Amundi is currently understood to be planning to launch two evergreen funds this year with ICG, one based on private equity secondaries and another focused on private debt.
Lefebvre was appointed deputy head of real assets and alternatives in January this year and has worked for the group since 1999.
Amundi’s AUM reached €2.4trn as of end-March this year, up 7% over 12 months and 1% over the previous quarter. The company recorded record inflows of €22bn in the quarter and highlighted net income and earnings-per-share growth of 15%.
A spokesperson for Amundi said: “Simplifying the organisation will help us grow in our priority markets, like Europe and Asia, and expand in segments like retirement solutions and digital distribution. We are confident that this restructure will help us reach our goal of €300bn-plus in net inflows in our strategic priorities by 2028.”
