Samit Patel, head of UK wealth and distribution ETF sales at Lyxor, has departed after a decade with the firm and its parent company Société Générale.

His departure comes ahead of Amundi’s €825m acquisition of the French asset manager which is expected to complete by the end of the year.

Patel said last week: “After a decade, today marks my last day at Société Générale and Lyxor. A massive thank you to all my colleagues for your support and without who our successes would not have been possible.

“Now onto pastures new.”

Patel started his career in the cross-asset solutions sales team at SocGen where he spent six years between 2011 and 2017.

He subsequently moved over to the French bank’s asset management arm where he spent almost four years as head of UK wealth and distribution ETF sales.

Patel is not the first to depart Lyxor following the announcement of the acquisition in April. Earlier this month, HANetf hired Robin Kooijiman as head of Benelux ETF sales from the firm following the departure of Rick van Leeuwen who joined Jane Street.

Amundi’s acquisition of Lyxor will lead to an ETF business with over €150bn assets under management (AUM), with the latter having recently passed the €100bn barrier, only the third ETF issuer to do so in Europe behind BlackRock and DWS.

Earlier this month, UBS Asset Management also broke the $100bn ETF AUM barrier, some 20 years after the Swiss asset manager launched its first ETFs in Europe in 2001.