French asset management firm Carmignac Gestion has appointed fund manager Maxime Carmignac to the role of managing director for the group’s UK office.

Carmignac is set to focus on the group’s long-term strategy for growth in the UK market by bolstering the firm’s local footprint.

With this new role, Maxime Carmignac, who is also the daughter of company founder Edouard Carmignac, will be taking a further step away from active management.

Maxime has long been considered the successor to her father’s investment firm, running the international long/short equity fund, Market Neutral +, prior to the appointment.

Late last year Vincent Steenman was hired from Zadig Asset Management to take over the strategy from Carmignac, ahead of her going on maternity leave.

Her new position as managing director for the UK, does not impact country head Matthew Wright, who will continue to oversee business development with distributors, the firm said.

Maxime Carmignac, who is also a member of the company’s Strategic Development Committee, joined the firm in 2006 and has been a member of the group’s board of directors since 2008.

Carmignac Gestion expanded into the UK market in 2012 and currently has £40 billion ($64 billion) in assets under management. It markets its funds in 11 European markets, including France, Luxembourg, Switzerland, Belgium, Italy, Germany, Spain, the Netherlands, Austria, Sweden and the UK.