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.

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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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