AXA announced the appointment of Marco Morelli, previously Chief Executive Officer of Monte dei Paschi di Siena, as Executive Chairman of AXA Investment Managers (AXA IM) and a member of AXA’s Management Committee. Morelli -who will report to Thomas Buberl, Chief Executive Officer of AXA- will take office on September 14 and will be based in Paris.
The company stated in a press release that he will replace Gérald Harlin, AXA’s Deputy Chief Executive Officer and Executive Chairman of AXA IM, who has decided to retire at the end of September. After 30 years with the Group, Harlin will remain a member of the Board of Directors.
“I would like to warmly thank Gérald for his very significant contributions to AXA’s success and his decisive role in making the Group a world leader in insurance. I would also like to thank him for postponing his retirement last year to take over the leadership of our asset management entity AXA IM, to which he and his teams have given a new impetus by putting in place a new organization that is better adapted to its future development”, commented Buberl.
“On a personal note, I would like to reiterate that I feel particularly privileged to have worked with him. I know that all AXA employees join me in wishing him all the best in his future endeavors”, he added.
Meanwhile, Harlin declared himself “very happy” and “proud” of what has been achieved with AXA IM’s teams. “Thanks to its new streamlined organization, based on two strategic operational pillars, Core and Alternative investments, AXA IM is ready to pursue its development under Marco’s leadership”, he said.
Buberl also highlighted the 36 of experience in banking and financial services of Morelli and stated that his knowledge of European markets and “proven leadership” will be key assets to further develop AXA IM. “All the members of AXA’s Management Committee join me in wishing him the best in his new role”, he added.
Morelli is “honored” to join AXA and to take over the management of AXA IM. “I look forward to working with the teams and drawing on their recognized expertise to take AXA IM to a new stage of growth and development, in line with its strategy”, he commented.
AXA IM, 100% owned by AXA, is an active, long-term, global, multi-asset investor, with approximately €804 billion in assets under management as at end of March 2020. AXA IM employs over 2.350 employees around the world and operates out of 30 offices across 21 countries.