Chief executive officer and head of the institutional division at Fortis Investment Management (FIM) in Paris, Xavier Lepine, has quit.
It is understood that Lepine was not happy with his role following the merger of FIM with Generale Bank last year.
He is replaced as CEO by Michel Lacomme who is also president of the firm’s board of directors.
Lepine continues to act as president of French fund manager Multifonds, in which FIM has a 34% stake. He was not available for comment during press time.
By Madhu Kalia
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