Steeve Brument was named global head of alternatives at European asset management firm Candriam, an appointment that coincides with a move by the firm to shift its alternative investment capabilities into a single platform.
Brument was head of multiasset quantitative strategies and deputy head of multiasset at Candriam, and has been with the firm since 2001. He will not be directly replaced and will continue to oversee quantitative multiasset, a spokesperson said.
In his new role leading the Candriam Alternative Investments platform, Brument will work with a team of 34 investment professionals, and report directly to Nicolas Forest, chief investment officer at Candriam. He will also become a member of Candriam's executive committee.
"We are confident that the appetite for alternative strategies will continue to grow, offering an attractive option for diversification and favorable risk-return profiles," Forest said in a news release. "The unification of our alternative investments represents an exciting evolution for Candriam, bringing together our expertise across different teams and solutions."
Candriam also named Grégoire Thomas as head of equity market neutral within the alternative investments division. Thomas was a portfolio manager at Millennium.
The spokesperson said that Thomas is directly replacing Emmanuel Terraz, global head of absolute return and quantitative equity, who will leave the firm.
Spokespeople could not immediately be reached for further information.
Candriam has about €144 billion ($154.9 billion) of assets under management, including about €23 billion in the alternatives platform. According to a statement by the firm, it will be increasing its efforts in ESG integration within its alternative investments and launching ESG-focused absolute-return solutions in the near future.
Candriam underwent a senior leadership reshuffle earlier this year, including the naming of Forest as CIO.
