BNP Paribas has appointed Sandro Pierri as CEO of its asset management arm, BNP Paribas Asset Management (BNP AM), effective 1 July 2021.

Pierri will be based in Paris and will report to incoming BNP Paribas deputy COO Renaud Dumora, who will oversee the company’s Investment & Protection Services Division that includes the BNP AM.

He succeeds Frédéric Janbon, who is now appointed as special advisor to Dumorato ensure the transition.

BNPP Group CEO Jean-Laurent Bonnafé said: “I would like to sincerely thank Frédéric 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 2014, 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.”

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Dumora remarked that Pierri transformed BNP Paribas AM’s Global Client Group into a client-centric distribution platform to support the growth strategy of the business.

“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,” he added.

Pierri has over three decades of experience in the asset management space. He joined BNPP AM in 2017 as head of the Global Client Group (GCG).

He began his career in 1989 as a portfolio manager with San Paolo Fondi. He also worked BNL Gestioni and ING Investment Management in Italy.

Between 2002 and 2003, Pierri was CEO of ING Group’s Italian retail business.

He joined Pioneer Investments in 2004 after the acquisition of ING’s Italian business by Pioneer.

He held various commercial and managerial positions for ten years in the firm, including being appointed as CEO in 2012.

Last month, BNP Paribas AM appointed Alex Bernhardt to serve as the global head of Sustainability Research within its Sustainability Centre.