Impact investment

10 February 2021 By Christopher Thompson Follow @CGAThompson

Europe’s biggest fund manager named Valérie Baudson CEO. The elevation of current boss Yves Perrier to chairman is an eyesore for a company that flaunts its ESG credentials. Yet given the $16 bln group’s need for acquisitions, keeping the seasoned dealmaker around makes sense.

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Amundi has announced that Valérie Baudson will succeed Yves Perrier as chief executive of the French asset manager from May 10 while Perrier becomes chairman, according to a company statement on Feb. 10. Baudson, currently head of Amundi’s exchange-traded funds business, has been a member of Amundi’s executive committee since 2013.

Separately, Amundi announced a 5% year-on-year drop in underlying annual net income to 962 million euros on net revenue which fell by 4% to 2.6 billion euros. The company added that net income would have been stable compared to 2019’s 1 billion euros, after stripping out the effects of the market downturn last year.

Amundi saw overall inflows of 14.4 billion euros in the fourth quarter of 2020 and its assets under management rose to 1.73 trillion euros at end-2020, up 4.6% year-on-year.

It said it would resume paying a dividend, in line with European Central Bank recommendations, and proposed a payout of 2.90 euros per share.

Amundi shares rose by 3.6% to 67.75 euros by 0842 GMT on Feb. 10.

Context News

Amundi saw overall inflows of 14.4 billion euros in the fourth quarter of 2020 and its assets under management rose to 1.73 trillion euros at end-2020, up 4.6% year-on-year.

It said it would resume paying a dividend, in line with European Central Bank recommendations, and proposed a payout of 2.90 euros per share.

Amundi shares rose by 3.6% to 67.75 euros by 0842 GMT on Feb. 10.

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