Yves Perrier is set to step down as chief executive officer of Amundi after 11 years in charge and will be succeeded by Valerie Baudson.
Vacating the role on 10 May, Perrier (pictured) will succeed Xavier Musca as chair of the company’s board.
During his time as CEO, Perrier played a crucial role in Amundi’s foundation, after Société Générale and Crédit Agricole merged their asset management businesses in 2010.
Perrier also had a key role in the company’s listing on Euronext Paris in 2015 and oversaw the acquisitions of Pioneer Investments for €3.5bn in 2016 and Banco de Sabadell for €430m in 2020.
Furthermore, he managed Amundi’s joint venture with Bank of China subsidiary, BOC Wealth Management, which was the first time a foreign investor gained a majority stake in a Chinese asset manager.
Outgoing chair Musca commented: “After 14 years as head of Amundi, Yves Perrier has wished to hand over the general management responsibility.
“Under his leadership, Amundi enjoyed outstanding development, becoming the indisputable European leader and one of the world leaders in asset management, recognised for the strength of its business model, its growth momentum and its position as a financial player committed to society.”
As per company policy, Perrier could have held his position for an additional three years, until the age of seventy.
He will be replaced by Baudson, who is currently CEO of CPR Asset Management, passive management and third party distribution and wealth clients.
Baudson joined Amundi in 2008 as managing director of the firm’s ETF business before being promoted to run the division in 2013. She is also a member of the firm’s general management committee.
Perrier said: “Amundi has a clear strategy that has been unchanged since the company was founded: remaining an efficient organisation with talented and tight-knit management.
“In these circumstances, I felt it was time to pass on the general management torch. I am pleased that Valérie Baudson has been chosen by the board because I have total confidence in her ability to continue and amplify Amundi’s development trajectory. It is the choice of competence, continuity and shared values.”
Outside of his role at Amundi, Perrier became chairman of the Institutional Investors Committee of Paris Europlace in 2010 and Chairman of the Association Française de la Gestion Financière in 2015.
In 2020, he donated half of his €2m bonus from 2019 to Crédit Agricole’s coronavirus solidarity fund for the benefit of elderly people.