French AM industry names international ambassador
Frog, the working group set up by the French asset management association AFG and the French market regulator AMF, has officially unveiled its seven measures to render the French management industry more attractive.
Most of them such as the pre-marketing of funds and the eventual drop of the AMF mandatory classification of funds have been disclosed already during the summer.
AFG and AMF intend to provide a large range of solutions for subscriptions/redemptions of fund units, including a ‘transfer agent’ offering.
Also, investors will be able to invest into Sicavs that will respect the principles of a “good governance charter”.
The remaining five measures focus on transparency and flexibility. They will allow asset managers to provide their clients with more detailed information over management fees, to use or not the AMF mandatory classification for their funds.
AFG and AMF have also plans to develop new options for delegated management as well as liquidity management tools.
In addition, AFG has appointed Jean-Louis Laurens as international ambassador. He will be responsible for representing and promoting the French asset management industry across the world.
Laurens was formerly managing partner and CEO of Rothschild & Cie Gestion he joined in 2009. He also sat in the firm’s board of directors.
Prior to that, he was CEO of Robeco France before being appointed head of Investment Management at Robeco Institutional Asset Management.
From 1999 to 2005, he held a number of positions at AXA IM including deputy CEO of AXA IM and CEO of AXA IM France, Benelux, Italy and Spain.
Laurens started his career at HSBC in 1993 then joined Morgan Stanley in Paris where he was, among other responsibilities, deputy CEO.