(January 17, 2013) — One of the largest insurance companies in France has appointed a new CIO to oversee the management of its domestic assets.
Pascal Christory was promoted to the role at the start of this year, Financial News initially reported. He has taken responsibility for over €130 billion in insurance assets.
The 37-year-old had previously been head of multi-asset investments at the firm’s fund management division – AXA Investment Management (AXA IM) – based in its Paris office. A spokeswoman for AXA IM confirmed the move to aiCIO.
A decade ago, he managed the first commodity-based ETF replicating the S&P GSCI index, Financial News reported. He then set up the first listed European real estate ETF thereafter and soon became head of structured and index management at Axa IM.
Separately, AXA IM announced one of its first UK liability-driven investment (LDI) mandates today with a contract to manage £50 million on behalf of the Cornwall local authority pension fund.
The firm has built up a substantial LDI unit through hires from other UK asset managers, including Shalin Bhagwan and Lucy Barron from Legal and General Investment Management and Rodrigo Ostik from Barclays Capital.