Sandro Pierri will become CEO of BNP Paribas Asset Management, effective July 1.
Mr. Pierri will replace Frederic Janbon, who will leave at the end of this year to pursue other opportunities. Details on his future plans were not available. In the interim, Mr. Janbon will become special adviser to Renaud Dumora, CEO of BNP Paribas Cardif, who will become deputy chief operating officer of parent company BNP Paribas this month. The special adviser role is temporary for the handover period between Messrs. Janbon and Pierri, a spokesman confirmed.
Based in Paris and reporting to Mr. Dumora, Mr. Pierri became deputy CEO of the money management business in January. He joined as head of the global client group in 2017. Details on any replacement for the deputy CEO role were not available.
Mr. Pierri's appointment "demonstrates the capacity of our asset management business to organise a seamless succession plan which will ensure consistency with the strategy developed by Frederic Janbon. Sandro has transformed BNP Paribas Asset Management's global client group into a client-centric distribution platform to support the growth strategy of the business. This has proven successful with positive results in 2020, despite the impact of the pandemic," Mr. Dumora said in a news release.
BNP Paribas AM had €483 billion ($593.2 billion) in assets under management as of Dec. 31.