Isabelle Scemama is taking over from Pierre Vaquier as CEO of AXA Investment Managers - Real Assets, the Paris-based insurance company announced on Thursday evening.
Scemama's new role marks the first appointment of a woman in such a senior position at one of the biggest real estate companies in Europe. Vaquier is leaving the firm 'to pursue other interests', the company said in a press release.
Scemama was previously CEO of AXA REIM SGP, the French regulated entity of AXA IM - Real Assets and, as such was responsible for the funds group which includes a wide range of real estate funds (core, value-add, development). She joined the company in 2001 to head its real estate fund structuring and financing practice and pioneered the launch of the commercial real estate loans activity in 2005, making the Paris-based company the first in Europe to pursue such a strategy.
Commenting on the appointment, Andrea Rossi, CEO of AXA Investment Managers, said Scemama had been an instrumental force in, and key to the development of AXA's Real Assets platform. 'I have every confidence that the longevity of her experience with the firm, and her direct involvement in AXA IM - Real Assets’ recent expansion and achievements, will ensure both a smooth transition and continued success.'
Scemama started her career in 1989 in the large cap corporate financing department at Paribas before joining its real estate financing department in 1995, where she was responsible for the financing of investors. Altogether she has 25 years of experience in financing including more than 20 years in real estate.
During his 10-year stint as CEO of AXA IMRA, Vaquier has overseen the growth of a company with €17 bn in assets under management operating in six countries and exclusively managing the AXA Group’s real estate investments, to a global market leader which manages over €70 bn of AUM. The company currently has 15 local offices operating in 24 countries and provides real estate investment management services to more than 200 third party clients. He joined the company in 1993, moving to AXA Real Estate Investment Managers at its creation in 1999 (which later became AXA IM - Real Assets).
Vaquier's 'clear vision' and understanding of the real assets market were undoubtedly key ingredients in AXA IM - Real Assets’ expansion and numerous business successes, Rossi said. 'During his tenure, Pierre also managed to build a team of very experienced and highly capable professionals, who are now well prepared to pursue the strategy he put in place.'
In a reaction, Scemama said she was 'honoured' to be appointed as CEO of AXA IMRA. 'The firm has been a success story since its very creation and it is an exciting challenge, and great responsibility, to have the opportunity to lead it through the next phase of its evolution with our new management board, particularly in an environment where demand from investors for real assets has never been so high. Looking ahead, I am confident that the company will be able to capitalise on the distinctive strengths it has continued to establish and reinforce, year after year, while further addressing our clients’ needs and facing the new challenges of our industry.'
