By Reuters Staff
3 Min Read
PARIS (Reuters) - Amundi shares rose on Wednesday after Europe’s largest fund manager said Chief Executive Yves Perrier would be succeeded by his deputy Valérie Baudson, a longstanding insider.
FILE PHOTO: Amundi CEO Yves Perrier attends the Paris Europlace International Financial Forum in Paris, France, July 11, 2017. REUTERS/Gonzalo Fuentes
News of the handover came as Amundi posted its highest quarterly net income since it was created in 2010, and after lingering doubts about the succession plan had weighed on the share price, analysts said.
“The announcement of a strong, internal candidate as CEO, with a background in some of the most important parts of the Amundi franchise, is a positive,” analysts at Credit Suisse said.
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