FRANCE - Antoine de Salins, the executive director of France's Fonds de réserve pour les retraites (FRR), has departed the social security buffer fund for Groupama Asset Management.

De Salins has been appointed chief investment officer at the €92bn asset manager and will assume his new role in early February, following to the departure of Romain Boscher.

In a statement, the company said Boscher left to give "new direction" to his career.

Augustin de Romanet, chairman of FRR's executive board said: "I pay special tribute to the work of Antoine de Salins, who has since its inception contributed to the FRR's rapid progress and who has established himself as a benchmark player in asset management in France."

In addition to his roles at FRR as both executive director and chairman of the manager selection committee, de Salins is a member of the Commission of Collective Asset Management at the French Financial Market Regulation Authority and sits on the board of the UN Principles for Responsible Investment.

Prior to joining FRR, he held a number of senior positions within the state treasury, including that of financial councilor at France's permanent representation at the European Union.

The €33bn pension reserve fund has recently seen part of its assets transferred to the Caisse d'Amortissement de la Dette Sociale, which has reduced France's €134.5bn social security deficit by almost €38bn between 1996 and 2008.