FRANCE - CDC IXIS Asset Management (CDC IXIS AM) is restructuring its fund management and research teams, giving increased responsibilities to a number of its senior fund managers, following the departure of both its chief investment officer and head of emerging and European equities.
Roland Calvo was the group’s chief investment officer and Laurent Imbert was the head of emerging and European equities. No one from the group responded to a request for comment on the reason for the departures by deadline.
Estelle Mironesco (pictured) will join as head of equity and credit research, with the aim of reinforcing links with the group’s fund managers, CDC IXIS AM said in a release.
The new head of investments will be appointed in early October.
Commenting on the restructuring, member of the executive board, Jacques Ollivier said: “Such departures are common in the life of an asset management company, which is structured to deal with this sort of event.
“Furthermore, strong internal controls of our investment processes ensure that our activity continues undisturbed. Finally, CDC IXIS AM has taken advantage of this situation to put into place an organisation aimed at reinforcing synergies between the teams and at supporting our fund management activity, by repositioning research at the heart of our business.”
Final results of the overall reorganisation will be announced in coming weeks, the release said.
CDC IXIS AM, headquartered in Paris, has e339bn in assets under management (at June 30, 2004). The group is a subsidiary of CDC IXIS and is present in all major financial centres, particularly in the US where its fund management, service and marketing activities are organised around 15 affiliates.
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