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Global aggregate chief exits Amundi

Global aggregate chief exits Amundi

Amundi’s head of global aggregate management, Hervé Hanoune, has left the French firm, Citywire Global can exclusively reveal.

The London-based manager had spent almost 14 years with the asset management company.

A spokesperson for Amundi confirmed to Citywire that Hanoune left the firm on March 28. It has not been revealed where he is headed.

Hanoune had overseen the Amundi Funds Bond Global Aggregate fund since July 2008.

He had worked with a committee of six managers to develop the investment process, while being personally responsible for implementing the strategy.

Leading this process on the $3.6 billion global bond fund is now Laurent Crosnier, chief investment officer for Amundi London.

The departure of Hanoune marks the second high profile exit from the French firm’s London unit in the past six months. It follows former Citywire AA-rated manager Paul-Georges Moucan leaving the firm in October of last year.

Hanoune was named head of global aggregate management in 2008 and oversaw around $4 billion in assets. He originally joined Credit Agricole Asset Management, which became Amundi, in 1999.

The Amundi Fd Bond Global Aggregate – AU (C) returned 80.8% over the five years to the end of February 2014. This compares to a rise of 50.4% by its Citywire benchmark, the Barclays Global Aggregate Corp TR USDH, over the same period.

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