LFDE business development head steps down
Jean-François Bay, who served as head of Strategy, Business Development and International since last May at La Financière de l’Echiquier, has left the company, French media NewsManagers reported, quoting a spokesperson of the firm who confirmed the move.
Bay, former chief executive officer of Morningstar France, was responsible for building a strategic plan aiming to boost LFDE’s presence towards various client segments in France and outside the country. It is understood Christophe Mianné, recently named chief executive officer of LFDE after the boutique’s deal with Primonial, will ensure the transition.
The information has not been confirmed to InvestmentEurope yet.
Last November, LFDE has sealed a deal with Primonial to acquire its asset management activities, Stamina AM and AltaRocca AM, against a 40% stake of Primonial into LFDE’s capital.
The transaction has led to a reshuffling of the teams at all levels as LFDE is set to open a new cycle. The firm has set ambitious plans with Primonial to conquer European markets and further compete with other larger French asset managers.
Five portfolio managers have departed the French boutique over 2017, including Jean-Charles Belvo, Frédéric Plisson, Gilles Constantini, Kevin Guillot and Damien Lanternier.