French asset manager Amundi Real Estate has confirmed the appointment of former Alta REIM boss Jean-Marc Coly as new CEO.

French asset manager Amundi Real Estate has confirmed the appointment of former Alta REIM boss Jean-Marc Coly as new CEO.

Coly, who spent over 20 years at asset manager La Française REM, is set to replace Nicolas Simon who is taking on a senior position with Amundi in Asia.

Over the past two years Coly has led the property fund management business of French REIT Altarea Cogedim, known as Alta REIM. Before then, he led La Française REM group.

Amundi, which recently bought the €1 bn Aqua pan-European office portfolio from Union Investment Real Estate, unveiled plans earlier this year to list on the Paris stock exchange by end-2015.

With roughly €9 bn of real estate assets under management in Europe, Amundi is a leading asset manager in Europe and top-10 player globally. The company was formed in 2010 by Crédit Agricole, which owns a 80% stake, and Société Générale (20%).

The two shareholders said the flotation is aimed at supporting the continued development of Amundi and providing liquidity to Société Générale, which could sell its entire stake as set out in the shareholder pact that was agreed at the time Amundi was created.