Amundi's chief executive Yves Perrier has donated half of his €2m bonus that he received at the end of 2019 to a charitable fund set up to combat the outbreak of coronavirus.

The fund, named the Credit Solidarity Fund for the Elderly, is set up by Amundi’s parent company Credit Agricole which owns 70% of the asset manager.

In addition to waiving €1m of his bonus, Perrier (pictured) is deferring the remaining €1m throughout the remainder of 2020.

Of the remaining €1m, Perrier is expected to receive 30% in May, a further 10% in September and then the remaining 60% will be paid in three years’ time depending on the share price of Credit Agricole and Amundi.

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Amundi's ETF business grew its assets under management by 47% to €56.8bn in 2019, according to data from Morningstar.

Credit Agricole’s CEO Philippe Brassac and deputy CEO Xavier Musca have also contributed half of their 2019 bonuses to the charitable fund.

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