One of French President Francois Hollande's economic advisers has been snapped up by French insurance giant Axa.
Laurence Boone, who was critical of Hollande's socialist government before being appointed, controversially joined Hollande's team of advisers in June 2014. She left a post at Bank of America Merrill Lynch Global Research to do so.
“I am absolutely delighted that Laurence has decided to join Axa. She is a leading economist, with a very strong track record at international organizations, leading financial institutions and more recently in her role of advisor to the French Presidency Office on world affairs," said Axa chairman Henri de Castries.
Boone will begin in March, replacing current chief economist Eric Chaney who will retire this year. She will run a team 10 economists and investment strategists. Axa hopes she will "also leverage her considerable experience to help AXA IM better understand and meet the needs of sovereign wealth funds, central banks and state pension funds".