Amundi appoints former Axa IM boss for Pioneer merger

dominique-carrel-billiard

Amundi has appointed Dominique Carrel-Billiard as deputy director with responsibility for coordinating the French asset manager’s merger with Pioneer Investments.

Carrel-Billiard was chief executive of Axa Investment Managers from 2006 to 2013.

Amundi points out that in this role he was responsible for consolidating group acquisitions and operational units.

After Axa, Carrel-Billiard became chief executive of Financière de l’Echiquier.

Amundi confirmed last week it had purchased Pioneer in a €3.5bn deal due to complete in the first half of 2017.

It sees the business’s assets under management reach €1.3trn, making it the world’s eighth largest asset manager. Pioneer, which specialises in retail products, has €222bn assets under management.

Ahead of the announcement, Pioneer suspended two senior members of its fixed income team due to allegations they were planning to establish a rival asset manager.