Based in Frankfurt, Hoerich replaces Hubert Daenner, who left Amundi at the end of July. He joins after a decade with JP Morgan Asset Management, where he was head of institutional clients, Germany and Austria. He previously served as head of institutional clients at Merrill Lynch Investment Management.

Hoerich began his career at JP Morgan in 1996, spending six years there in Frankfurt, London and New York, latterly as senior relationship manager for institutional clients.

As of the end of June, Amundi, which has offices in over 30 countries, had more than €950 billion ($1.08 trillion) in assets under management worldwide. It recently registered documents with French authorities ahead of a planned Paris initial public offering.