Valérie Baudson to succeed Yves Perrier as CEO of Amundi
Franck Joselin and Adrien Paredes-Vanheule
Valérie Baudson, currently deputy CEO of Amundi, will succeed Yves Perrier as chief executive officer of the €1.7trn asset management subsidiary of French financial group Crédit Agricole. In a similar move, Perrier will replace Xavier Musca as Amundi's chairman. This evolution of governance will be effective after the asset manager's next general meeting on 10 May 2021.
Perrier has been leading Amundi since its creation in 2010, born of the merger of Crédit Agricole AM with Société Générale AM. The asset manager is listed on Euronext Paris since 2015. Perrier said during a press conference that Amundi's stock had returned 68%, including dividends, since then. The company achieved its best quarter ever in Q4 2020 with a net adjusted profit of €288m even though net inflows were down to €14.4bn (vs. €34.7bn in Q3 2020).
“It seems to me the moment has come to make the governance evolve,” said Perrier during a press conference, adding that “this kind of evolution must be achieved while things are running well.” 2020, he said, has been a “great year” for Amundi, not only in terms of financial performance but also for the “profusion of strategic initiatives that will fuel its future growth,” including the renewal of the agreement with Societe Generale, the acquisition of Sabadell or the establishment of the Amundi Technology business line.
Baudson said “the masterword will be continuity.” Amundi's future CEO joined the asset manager 14 years ago after starting her career in the corporate investment banking division of Crédit Agricole. She has been a member of Amundi's executive committee since 2013 and a member of the management board since 2016. Since 2008, she is overseeing Amundi's ETF, index and smart beta business line that she created and developed. Amundi is currently ranking as the fifth ETF asset manager in Europe. Since 2016, she is also CEO of CPR Asset Management, the thematic investment boutique of Amundi.