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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Tuesday, January 31, 2023 Abou-Jaoudé Will Take Over a $371B-AUM Multi-Boutique A $149-billion-AUM (as of December 31) ESG asset manager's chief is preparing pass the reins and take over its $371-billion-AUM, multi-boutique parent.
Abou-Jaoudé currently serves as CEO of Candriam (one of NYLIM's boutiques) and as chairman of NYLIM International. Also on May 1, Brussels-based Vincent Hamelink (currently Candriam's chief investment officer) will succeed Abou-Jaoudé as CEO of Candriam and Milan-based Renato Guerriero (currently Candriam's chief sales and distribution officer) will rise to deputy CEO in charge of global development and distribution at Candriam, with Abou-Jaoudé becoming Candriam's chair. (NYLIM's other boutiques include: Apogem Capital LLC, Ausbil Investment Management Limited, IndexIQ Advisors LLC, and MacKay Shields LLC. NYLIM also offers the MainStay mutual funds.) Abou-Jaoudé will become NYLIM CEO seven months after the asset manager's former chief, Yie-Hsin Hung, left to take over a different asset manager, as previously reported. DeSanto lauds Abou-Jaoudé as "an accomplished leader in the global investment management industry with a strong track record of achievements." "I am very confident in the leadership and vision that he will bring to NYLIM in the years to come," DeSanto states. Karaoglan notes that AUM at Candriam (fka Dexia Asset Management) has doubled since since it was purchased by New York Life in 2014. "I have full confidence that under Naïm's direction, NYLIM including Candriam will continue on their growth trajectories," Karaoglan states. For his part, Abou-Jaoudé lauds NYLIM as a "firm that demonstrates the finest principles of asset management." And he descsribes Guerriero and Hamelink as "instrumental in [Candriam's] growth, developing a platform that has consistently delivered long-term returns to investors and accelerating demand for the Candriam brand." Before taking over Dexia in 2007, Abou-Jaoudé served as its CIO of alternative investments. Earlier, he held leadership roles at UBS Asset Management France (which Dexia bought in 1999), Alfi Gestion (which UBS bought in 1998), and Transoptions Finance. He is an alumnus of the Institute of Political Studies (IEP-Sciences Po) and of Université Paris II — Panthéon Assas. Printed from: MFWire.com/story.asp?s=65523 Copyright 2023, InvestmentWires, Inc. All Rights Reserved |
