Amundi: Change to Amundi’s corporate governance
Press release
Change to
Amundi’s
corporate governance
London, 14 March 2023 - In
2021, Yves Perrier accepted the chairmanship of Amundi’s Board of
Directors in order to support the company during a transition
period. This period will end following the Annual General Meeting
which will be held on 12 May 2023. Consequently, Amundi's Board of
Directors approved the following changes to the governance at its
meeting of 13 March 2023:
- Philippe Brassac,
who joined the Board of Directors in October 2022, will replace
Yves Perrier as Chairman following the Annual General Meeting of
May 12;
- Yves Perrier will
be appointed Honorary Chairman of the company.
Philippe Brassac commented, “I extend my warmest
thanks to Yves for his achievements, on both my own behalf and on
behalf of Crédit Agricole Group. Visionary and pragmatic, Yves was
the architect of the creation of Amundi in 2009 and has driven the
remarkable development of the company, which has now become the
European industry leader. Under his leadership, Amundi has made
responsible investment a hallmark of its strategy, in line with the
orientations of the Crédit Agricole Group. I would also like to
underline the exemplary nature of the managerial transition carried
out which has enabled Amundi - the 2021 and 2022 results attest to
this - to confirm its profitable development momentum.”
Yves Perrier added, “As I prepare to hand over
my responsibility as Chairman, I would first like to express my
pride in the company's journey. Today, Amundi is the European
leader, respected for its expertise, economic performance, and
commitment as a responsible investor. I want to share this pride
with all managers and employees for their commitment to our shared
values. Amundi's success is theirs. I would also like to thank our
clients, for their trust, and our shareholders – first and foremost
Crédit Agricole – whose support has been constant.
Amundi has a robust business model and strong
growth drivers for the future. I am certain that, under the
leadership of Valérie Baudson and with the support of Philippe
Brassac and Crédit Agricole Group, Amundi will continue its growth
journey.
For my part, among my future responsibilities, I
will pursue my commitment to promote finance that serves the
country's transition and development challenges”.
***
Philippe
Brassac, Chairman of the Board of
Directors, Amundi
Philippe Brassac has been Chief Executive
Officer of Crédit Agricole S.A. since May 2015. He is a member of
the Executive Committee of Crédit Agricole S.A.
Philippe Brassac joined Crédit Agricole du Gard
in 1982, where he was Head of Organisation and then Head of
Finance, Banking and Marketing. In 1994, he was appointed Deputy
Chief Executive Officer of Crédit Agricole des Alpes Maritimes, and
continued to hold this position at Crédit Agricole Provence Côte
d’Azur when it was formed from the merge of Caisse régionale des
Alpes Maritimes, Caisse régionale des Alpes de Haute-Provence and
Caisse régionale du Var. In 1999, he joined Caisse nationale de
Crédit Agricole as Head of Relations with the Regional Banks. In
2001, he became Chief Executive Officer of Crédit Agricole Provence
Côte d’Azur. Philippe Brassac was elected Deputy Chairman of
Fédération Nationale du Crédit Agricole in 2008, becoming Secretary
General in 2010, on this basis, he was Deputy Chairman of SAS Rue
La Boétie.
Philippe Brassac is a graduate of the Ecole
Nationale de la Statistique et de l’Administration Economique and
holds an advanced diploma in mathematics.
Yves Perrier, Honorary
Chairman of the Board of Directors,
Amundi
Yves Perrier was hitherto Chairman of the Board
of Directors of Amundi, created from the merger of the asset
management companies of Crédit Agricole and Société Générale. As
architect of Amundi’s creation in 2010, he was Chief Executive
Officer until May 2021. Under his leadership, Amundi experienced
strong growth and became the European leader in the asset
management industry.
Yves Perrier started his career in audit and
consulting. He joined Société Générale in 1987, where he was Chief
Financial Officer (1995-1999) and then Crédit Lyonnais in 1999,
where he was a member of the Executive Committee in charge of
Finance, Risk and General Inspection (1999-2003). In 2003, he led
the creation of Calyon (now Crédit Agricole CIB by merging CA
Indosuez with the investment banking business of Crédit Lyonnais.
He was its Deputy Chief Executive Officer until 2007.
Yves Perrier is a graduate of ESSEC and a
chartered accountant.
Yves
Perrier – detailed
biography
Yves Perrier, Honorary
Chairman of the Board of Directors,
Amundi
Yves Perrier has overseen asset management
operations at Crédit Agricole Group for the past 14 years. In 2010,
he was behind the creation of Amundi, merging the activities of
Crédit Agricole Asset Management and Société Générale Asset
Management.
Under his leadership, Amundi saw outstanding
development achieved through organic growth and successful external
growth operations, in particular the acquisition of Pioneer
Investments in 2017 and Lyxor in February 2021. With more than €2
trillion in assets under management, which have virtually doubled
since the company’s IPO in 2015, Amundi is the leading European
asset manager and one of the top 10 in the world. This business
growth was accompanied by strong earnings growth, which have risen
3-fold since Amundi was created.
The bulk of Amundi’s expansion took place
internationally. In Europe, Amundi is No. 1 in France, No. 2 in
Austria and the Czech Republic, No. 3 in Italy and is now in the
top 5 in Spain following the acquisition of Sabadell AM. In Asia,
the Group has more than €300bn in assets under management and has
recently extended its reach into China through the creation of a
subsidiary with Bank of China. It is the first Chinese joint
venture with a foreign player as its majority shareholder.
Under the leadership of Yves Perrier, the firm
has become a recognized leader in ESG, which was included as one of
the Group’s founding principles when it was created in 2010. The
Group has applied ESG criteria to all its open-ended funds and has
multiplied its efforts in favour of energy transition and social
inclusion, in particular through partnerships with IFC, the EIB and
the Asian Infrastructure Investment Bank.
Amundi was listed on the Paris stock market in
2015 and, at the time, it was the largest IPO on the French market
since the 2009 financial crisis. Its market cap has almost doubled
to reach more than €13bn today, the number 1 market capitalisation
in Europe and in the top 5 worldwide amongst listed asset
managers1.
In addition, Yves Perrier has been serving as a
member of the Crédit Agricole S.A. Executive Committee since 2003
and as Deputy CEO of Crédit Agricole S.A. since 2015. In these
roles, he supervised the Savings and Real Estate division and
directed Crédit Agricole Group’s solidarity initiatives.
Yves Perrier started his career in audit and
consulting. He joined Société Générale in 1987, where he was Chief
Financial Officer (1995-1999) and then Crédit Lyonnais in 1999,
where he was a member of the Executive Committee in charge of
Finance, Risk and General Inspection (1999-2003). In 2003, he led
the creation of Calyon (now Crédit Agricole CIB) by merging CA
Indosuez with the Investment Banking business of Crédit Lyonnais.
He was its Deputy Chief Executive Officer until 2007.
Yves Perrier was Chairman of the French Asset
Management Association (AFG) from 2015 to 2017 and currently he is
its Honorary Chairman. He is also Vice-Chairman of Paris Europlace
and, since 2020, Administrator-Treasurer of the Fondation de France
and member of the Boards of Directors of Edmond de Rothschild Group
and Fimalac Group.
He has been singled out for numerous awards, on
an international level, including Funds Europe’s European Asset
Management Personality of the Year in 2010 and the European
Outstanding Achievement award in 2018. He was also voted CEO of the
Year by Financial News in 2017 and by Global Investor Group in
2019. In 2022, he was awarded Financier of the year by ANDESE for
Amundi’s expansion and Lyxor acquisition.
Yves Perrier is 68 years of age. He is a
graduate of ESSEC and is a Certified Public Accountant (CPA).
Yves Perrier is Officer in the French Order of
the Legion of Honor and Officer in the French Order of Merit.
Yves Perrier has authored several publications.
Recently, he collaborated with Jean Dominique Senard to write
“Responsible Capitalism: An Opportunity for Europe”, published by
the Institut Montaigne and Comité Médicis. He also oversaw the
publication of a report to the French Minister of Finance to
strengthen the contribution of the Paris Financial Place to the
energy transition. He is currently Chairman of the Sustainable
Finance Institute which he created in December 2022.
***
About
Amundi
Amundi, the leading European asset manager,
ranking among the top 10 global players2, offers its 100 million
clients - retail, institutional and corporate - a complete range of
savings and investment solutions in active and passive management,
in traditional or real assets. This offering is enhanced with IT
tools and services to cover the entire savings value chain. A
subsidiary of the Crédit Agricole group and listed on the stock
exchange, Amundi currently manages more than €1.9 trillion of
assets3.
With its six international investment hubs4,
financial and extra-financial research capabilities and
long-standing commitment to responsible investment, Amundi is a key
player in the asset management landscape.
Amundi clients benefit from the expertise and
advice of 5,400 employees in 35 countries.
Press contact:
Natacha
Andermahr Tel. +33 1 76 37 86
05natacha.andermahr@amundi.com
Investor contacts:Cyril Meilland,
CFATel. +33 1 76 32 62
67cyril.meilland@amundi.com
Thomas LapeyreTel. +33 1 76 33 70
54thomas.lapeyre@amundi.com
1 Traditional asset managers2 Source: IPE “Top
500 Asset Managers” published in June 2022, based on assets under
management as at 31/12/20213 Amundi data as at 31/12/20224 Boston,
Dublin, London, Milan, Paris and Tokyo
- PR Corporate Governance 14Mar2023 ENG
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