The new CIO at the Paris-based asset manager has nearly 25 years' experience in the sector.

La Financière de l’Échiquier (LFDE) has appointed Michel Saugné (pictured) as chief investment officer (CIO), effective 1 January 2025. Saugné is now fully responsible for LFDE’s investment activities, the firm said in a statement. 

Since Tocqueville Finance merged with LFDE in April 2024, Saugné had served as co-CIO with Olivier de Berranger, CEO of LFDE. This change in governance will support the business development goals of the New LFDE, which has over €26 billion ($26.8 billion) in assets under management, and is present in France, Germany, Austria, Spain, Italy, Switzerland and the Benelux countries. 

Saugné began his career in 1999 with BNP Paribas before joining Natixis as a proprietary trader on equity strategies. In 2004, he moved to LCF Rothschild as a fund manager and was later appointed head of the funds of hedge funds team and co-head of the long-short equity expertise at Edmond de Rothschild. He joined Tocqueville Finance in 2013 and was promoted to deputy CIO in 2016. A member of LBP AM’s executive committee, he was appointed deputy CEO of Tocqueville Finance in 2023. In 2024, Saugné was appointed co-CIO of LFDE and joined the executive committee.

As a global equity specialist since 2010, LFDE said it aims to continue extending its investment expertise. 

“As an experienced professional, I am fully confident in his (Saugné's) ability to drive our growth plans forward successfully. Our goal is to conquer new markets while continuing to focus on innovation, which is deeply woven into LFDE’s DNA,” Berranger said.