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
The Department for Work and Pensions (DWP) will develop and test new ways to include 4.8 million self-employed workers in pension savings.
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
The Pensions Regulator (TPR) has appointed Charles Counsell as its new chief executive, who will take over from Lesley Titcomb next year.
The Financial Reporting Council (FRC) should be abolished and audit and advisory businesses should be split into separate entities to improve the sector for both savers and investors, two reports published today say.