Asset manager, AXA Investment Managers has appointed Marco Morelli as its new executive chairman and to its management committee.
Morelli was previously CEO of Italian bank Monte dei Paschi di Siena.
Reporting to the CEO of parent company Axa, Thomas Buberl, Morelli will begin in the role on 14 September, which is just before Gérald Harlin, AXA’s deputy CEO and current executive chair of AXA IM, is due to retire. Harlin will remain a member of AXA IM’s board of directors.
Buberl hailed Harlin's contribution, saying it had given AXA IM a new impetus by 'putting in place a new organisation that is better adapted to its future development.'
'I am very happy that Marco is joining AXA,' Buberl continued. 'His 36 years of experience in banking and financial services, extensive knowledge of European markets and proven leadership will be key assets to further develop AXA IM.'
