Record asset flows that Candriam, the asset manager formerly owned by Franco-Belgian bank Dexia, reported at the beginning of the month, should help support the firm’s ambition to expand its European distribution push.
Naïm Abou-Jaoudé, the chief executive officer, spoke to Funds Europe about his intention to expand the Candriam workforce by 10% over the next 18 months. Part of the focus is on the distribution market in Italy, and another part is on the institutional market in the UK with the development of a consultant relations office.
Abou-Jaoudé became chief executive of Dexia Asset Management in 2007, a year before Dexia, the bank, needed state assistance as the financial crisis gripped it.
New York Life Investments, owned by New York Life Insurance Company, bought Dexia AM in a deal completed last year. The asset manager since rebranded as Candriam.
It is announced today that Abou-Jaoudé has been appointed chairman of New York Life Investment Management International.
The full interview with Abou-Jaoude can be read here.
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