Sandro Pierri was named global CEO at Pioneer Investments, confirmed spokesman Geoff Smith.
Mr. Pierri was also named head of asset management at UniCredit.
Mr. Pierri replaces Roger Yates, who is stepping down because of “family commitments,” according to a news release on parent UniCredit's website. Mr. Yates will remain on Pioneer's board as a non-executive director.
The change is effective July 24.
Mr. Pierri was CEO of Pioneer Investments, Italy, and head of Western Europe and international, including Asia and Latin America.
“The quality of investment performance now is excellent and under Sandro's leadership the clear road map that has been defined will lead Pioneer Investments to growth and success,” Mr. Yates said in the release. “Sandro has been a valuable adviser to me in developing Pioneer Investments' strategic plan and many of growth initiatives of the plan fall directly within his remit.”
Pioneer had $209.9 billion in worldwide assets under management as of Dec. 31, according to Pensions & Investments data.