Amundi Alternative Investment has appointed Laurent Guillet, latterly deputy chief executive of the unit, as chief executive, replacing Andrew Watson, who is retiring.

Guillet joined Amundi Investment Solutions in April 2007 to focus on the managed account platform, before which he worked as head of equity and fund derivatives sales for Europe, Middle East and Northern Africa in the capital markets divison of Calyon. He has also worked as head of sales, equity derivatives for France, Benelux and Switzerland at Crédit Agricole Cheuvreux.

In his new role Guillet will be based in Paris.

Amundi AI has a core roster of some 170 hedge funds in what it terms the “10 most representative strategies”, including a managed accounts platform (set up in 2001). The product line covers varied risk, return, liquidity, transparency and de-correlation requirements.

Amundi AI has around 150 employees globally including in the cities of Chicago, New York, London, Paris and Tokyo. The firm had $11.7 billion (funds of funds) and $2.2 billion (managed accounts platforms) in assets under management at March 2011.