Amundi Asset Management has lost four distribution staff – including the chief salesmen from Societe Generale and Credit Agricole’s domestic funds management arms – from its Australian business.
Phil Filippelis, the managing director of Societe Generale Asset Management in Australia for the past eight years, and John Marigiannis, director of institutional distribution at Credit Agricole Asset Management (CAAM), were the two most senior sales staff to exercise voluntary redundancy during the merger of the two businesses into Amundi.
Richard Borysiewicz, domestic head of Amundi and former CAAM chief, confirmed Marigiannis’ departure, while Filippeslis said that he, in addition to David Tagg and Assadour Magarian, responsible for institutional marketing and client services at SocGen, also took the voluntary redundancy package, which took effect last Friday, July 2.
Marigiannis told I&T News that he exited Amundi on good terms and would search for an executive distribution role within the industry. Filippelis, who marketed mortgage-backed securities, mezzanine debt and US equities products run by SocGen and subsidiary Trust Company of the West, said he also sought a further opportunity.
Borysiewicz said he was actively searching for a replacement for Marigiannis: “I know the institutional market well, but it’s about balance and having a well-managed business, and not having too much risk in one area,” he said.