Axa IM chief exec Carrel-Billiard leaves

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Axa Investment Managers chief executive Dominique Carrel-Billiard has left the company and is being replaced by Axa Assicurazioni chief executive Andrea Rossi. 

Rossi, who has led Axa’s main insurance operations in Italy since 2008, will also join Axa Group’s executive committee. 

Frédéric de Courtois, chief executive of Axa MPS, the bancassurance subsidiary of Axa in Italy, will take the lead of AXA Assicurazioni.

Axa Group chairman and chief executive Henri de Castries says: “Thanks to Dominique’s actions, Axa IM is well equipped to face the challenges brought on by the financial crisis, and today boasts a solid balance sheet and strong investment performances. Growth is back, and the net positive flows recorded since June 2012 are continuing at an accelerated pace.

“Axa Investment Managers is a truly great company and I am fully confident in Andrea’s ability to lead it towards a new development stage.”