MOVES-Pioneer Investments says CEO Sandro Pierri to step down

mercoledì 26 novembre 2014 12:55
 

LONDON Nov 26 (Reuters) - Fund manager Pioneer Investments, a unit of Italian lender UniCredit, said on Wednesday that Chief Executive Sandro Pierri would step down on Jan. 31 and be replaced by Deputy CEO Giordano Lombardo.

Pierri, who had been at Pioneer for 11 years, leading it for two and a half years, will leave the company, Pioneer said in a statement. Over the last two years the unit had seen cumulative net inflows of around 24 billion euros ($29.88 billion), it said.

Lombardo has been at Pioneer for more than 17 years and was responsible for developing and leading the global investment management platform, it added.

Pioneer managed around 197 billion euros in assets at the end of October. ($1 = 0.8033 Euros) (Reporting by Simon Jessop; editing by Nishant Kumar)