The appointment has been approved by the Luxembourg financial supervisory authority, the CSSF, and alongside his position as chief operating officer of the Universal Investment Group, he will be responsible for the Luxembourg business.

Luxembourg is crucial to Universal Investment and its growth strategy to offer institutional investors and asset managers top services. It is also key to its position as a leading European fund service platform and Super ManCo.

In addition, due to strong client demand and the acquisition of UI efa in November 2022, the business now has a workforce of more than 500 employees and a combined €294bn ($310bn) in assets under administration.

Rougier will succeed Dr Sofia Harrschar, who has been country head of Luxembourg since 2021, alongside her position as head of alternative investments & structuring. She will be now be dedicated to expanding the alternative investments business, including the development of additional client solutions with her team.

Based in Luxembourg, Rougier joined Universal Investment as chief operating officer in April 2023. He began his career with AXA Investment Managers, where he oversaw major corporate reorganisation projects, including the outsourcing of AXA IM operations in Europe.

David Blumer, executive chairman of the Universal Investment Group, said: “We are delighted that Etienne will be stepping into the role of Country Head for Universal Investment Luxembourg. With more than two decades experience in the asset management industry, Etienne will drive the continuous development of our Luxembourg platform, which is core to Universal Investment’s growth strategy.

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“At the same time, we would like to thank Sofia Harrschar for her significant contribution to the Luxembourg platform, which has more than doubled in AUA under her tenure. As the Alternative Investments & Structuring division continues to expand globally, we are pleased that Sofia will remain a key driver of Universal Investment’s future growth.”