France trade body re-elects chairman

Chairmans_roomPaul-Henri de La Porte du Theil was re-elected as chairman of the French Asset Management Association (AFG) yesterday.

Muriel Faure, chief executive of Fourpoints Investment Managers, and Francis Ailhaud, chief executive of Groupama Asset Management, were re-elected as vice-chairs.

De La Porte du Theil headed Crédit Agricole’s asset management arm from 1991 to the end of 2009.

After his re-election he said France needed an active, responsive and effective management industry which, by mobilising savings, especially long-term savings, helps finance the real economy and uses its professional skills to serve investors.

Going forward, that need will become more acute, he said.

©2012 funds erurope