Andrea Rossi was named CEO of AXA Investment Managers, effective July 22, according to a news release Monday from the firm.
He will replace Dominique Carrel-Billiard, who has decided to leave the firm, according to the release.
Mr. Rossi was CEO of AXA Assicurazioni, the Italian insurance subsidiary of parent AXA Group. He will be replaced by Frederic de Courtois, CEO of AXA MPS, AXA's Italian bank insurance business.
“It is with pride and gratitude for AXA IM's teams that I look back on the last seven years during which I led them through extraordinarily tough market conditions. I thank them for their professionalism and their commitment. ... It was a very rewarding experience and I am now leaving AXA to pursue other professional projects,” said Mr. Carrel-Billiard in the news release. Efforts to reach either Mr. Rossi or Mr. Carrel-Billiard were unsuccessful.
Spokesmen at AXA Investment Managers would not comment further beyond the release.