The French banking group's asset management arm has a new chief executive.

BNP Paribas has appointed Sandro Pierri as chief executive of its asset management arm, taking over from Frederic Janbon, who will become a special advisor until the end of 2021 before leaving the group.

Based in Paris, Pierri will report to Renaud Dumora, future deputy chief operating officer of BNP Paribas. He will  be in charge of the investment and protection services division of the group which includes BNP Paribas Asset Management, alongside BNP Paribas Cardif, BNP Paribas Wealth Management and BNP Paribas Real Estate. 

Pierri has more than 30 years’ experience in the asset management industry. He joined BNPP AM in 2017 as head of the global client group, its global sales and marketing organisation. Pierri began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he had several commercial roles. Between 2002 and 2003 he was CEO of ING Group’s Italian retail business. After ING’s Italian business was bought by UniCredit/Pioneer, he joined Pioneer Investments, UniCredit’s asset management division, in 2004.  He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012.