MONEY MANAGEMENT

Amundi hires head of multiassets for institutional clients

Laurent Tignard joined Amundi as head of multiassets for institutional clients on Thursday in Paris, a spokesman confirmed.

He replaces Raphael Sobotka, who is taking on the head of multiassets for retail clients position from Loic Becue, who left Amundi, the spokesman added.

Mr. Tignard focuses on sovereign wealth funds, pension funds and insurance companies through developing services such as fiduciary platforms, management of dedicated mandates and asset allocation advisory services.

Amundi has more than €100 billion ($106 billion) in multiassets under management and €200 billion of advised assets.

Mr. Tignard reports to Vincent Mortier, global head of multiassets and deputy chief investment officer of Amundi Group.

He joined from Edmond de Rothschild Asset Management, where he was CEO until May, the firm’s spokeswoman confirmed. He was succeeded by Roderick Munsters.