Frederic Janbon is to leave BNP Paribas Asset Management at the end of the year to pursue other professional opportunities, the firm announced on Wednesday.
He has held the role since October 2015, the latest in a string of senior positions at the French asset manager.
His replacement has been named as Sandro Pierri, who will be promoted with effect from 1 July 2021.
Pierri will be in charge of the investment & protection services division of the group; which includes BNPP AM, BNPP Cardif, BNPP Wealth Management and BNPP Real Estate.
Based in Paris, he will report to Renaud Dumora, who is set to become deputy chief operating officer of BNP Paribas on 18 May.
Janbon will become special adviser to Dumora until he leaves the group.
BNP Paribas Group chief executive Jean-Laurent Bonnafe commented: “I would like to sincerely thank Federic Janbon for his overall contribution to the BNP Paribas Group, in which he spent most of his professional career.
“During his tenure at the head of fixed income and up until 2015, he successfully built and ran a powerful and recognised fixed income and debt capital market franchise.
“Since 2015, he has refocused and transformed our asset management activities into a fully integrated platform delivering solid investment performance to our clients. Under his leadership, BNP Paribas Asset Management has become a global leader in sustainable investment.”
Dumora added: “The appointment of Sandro Pierri, who has more than 30 years of experience in the asset management industry and has been deputy CEO for BNP Paribas Asset Management since 1 January 2021, demonstrates the capacity of our asset management business to organise a seamless succession plan which will ensure consistency with the strategy developed by Frédéric 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 proved successful with positive results in 2020, despite the impact of the pandemic.
“As CEO, he will uphold the strategy, philosophy and values of the firm within the framework of our group business development plan and will reinforce the leadership of BNP Paribas Asset Management in sustainable investment.”
Pierri started his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he held several commercial roles.
Between 2002 and 2003 he was chief executive of ING Group’s Italian retail business.
Following the acquisition by UniCredit/Pioneer of ING’s Italian business, he joined Pioneer Investments, UniCredit’s asset management division, in 2004.
He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012.
Pierri joined BNPP AM in 2017 as head of global client group.