Pioneer Investments CEO Sandro Pierri will step down from the group on 31 January 2015 and will be succeeded by current CIO and deputy CEO Giordano Lombardo.
Pierri joined Pioneer, a unit of Italian lender UniCredit, in 2003 and was promoted as CEO in 2012. Lombardo has been at Pioneer for over 17 years.
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Pierri will work alongside with Lombardo for the interim period.
The departure comes as UniCredit is seeking to sell Pioneer in a deal worth between 2bn and 3bn.
Federico Ghizzoni, CEO of UniCredit, said: "The past two years have seen Pioneer’s standing as a leading global asset manager reaffirmed, supported by outstanding investment performance and approximately 24bn of cumulative net inflows."
Pioneer had managed around £197bn in assets at the end of October 2014.
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