Lombardo, who is also Pioneer’s chief investment officer, had “decided to explore new opportunities for the next stage of his career, and will be leaving the group after the transaction is finalised”, Amundi said in a statement confirming the deal’s completion date.
Amundi said Lombardo had made a significant contribution to the growth of Pioneer over the last 20 years and played a leading role in the sale and early integration work of the two businesses.
The merged business, led by group chief executive Yves Perrier, has newly named designated heads of country covering Europe, US, Canada, Latin America, Asia and Middle East.
These are Cinzia Tagliabue (Italy), Evi Vogl (Germany), Werner Kretschmer (central and eastern Europe), Laurent Guillet (UK), Robert Richardson (Ireland), Lisa Jones (US, Canada, Latin America), Julien Fontaine (Japan), Xiaofeng Zhong (North Asia), Jack Lin (South-East Asia), Nesreen Srouji (Middle East).
The two key client focused divisions, for retail, which has €450bn (£394bn, $502bn) of assets under management, and institutional/corporate clients, with assets of €860bn, will be headed by Fathi Jerfel and Dominique Carrel-Billiard respectively.
Perrier said the acquisition enabled the consolidation of its position as “European leader” while enhancing the range of products and services offered to clients.
“Amundi is fully prepared to make the integration of Pioneer an opportunity to accelerate the growth of Amundi for the benefit of its clients, its employees and its shareholders”, he said.
Cost and revenue synergies from the deal, in line with its projections last December, are estimated by Amundi to create savings of €150m and €30m respectively, as the integration process unfolds over the next two years.
