Sandro Pierri, the chief executive of BNP Paribas Asset Management, indicated he intended to further the European Capital Markets Union, in part to aid the transition to net-zero carbon, in his role as president of the main cross-border funds association.
Pierri was elected as president of the European Fund and Asset Management Association (Efama) last Friday after the organisation’s annual general meeting in Amsterdam.
Pierri, who has been CEO of BNP Paribas AM since 2021, takes up the Efama presidency for two years.
“I am deeply convinced that Efama has an essential role to play to help build a true European Capital Markets Union to serve our clients and European savers but also finance the net zero transition,” he said.
“Our industry needs clear rules that allow fund and asset management companies to operate efficiently throughout the Union and beyond, and I am truly committed to ensuring the voice of our industry is heard at European and international levels.”
As well as a new board of directors, Efama also elected Massimo Greco, vice-chair asset management Emea at JP Morgan Asset Management, vice-president.
Naïm Abou-Jaoudé, the departing Efama president and who is also CEO of New York Life Investment Management, said he had full confidence that Pierri would lead Efama “with excellence, ensuring our industry’s continued growth and success”.
Tanguy van de Werve, Efama director general, said: “I wish to thank Naïm for the important contributions he has made as Efama president over the past two years. He has been a driving force and a great representative for asset managers during his tenure, successfully leading the association through particularly difficult times. I look forward to taking the association to the next level under the new presidency and to ensuring that Efama remains the strong and inclusive voice of its diverse membership.”
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