Wednesday 10 February 2021 8:13 am

Amundi CEO steps down on a high as fund manager reports record profit

Yves Perrier is stepping down after more than a decade running Amundi, Europe’s largest asset manager.

He will be succeeded by his deputy Valérie Baudson, the group said on Friday.

Perrier, who has led the French firm since its creation in 2010, announced his departure as the group reported a record fourth-quarter profit.

He will become chairman at the company’s next annual general meeting on May 10.

Results

Amundi reported a quarterly net income of €288m, up 5.1 per cent on the same period in 2019, largely thanks to net revenue growth and cost control.

Full-year income was down 4.7 per cent to €962m but the company said that earnings had nearly doubled since its initial 2015 public offering.

Overall inflows were €14.4bn in the fourth quarter and asset management rose by 4.4 per cent to €1.7tn at the end of 2020.

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