- Amundi is reshuffling senior leadership effective January 1, 2026, across Real & Alternative Assets, Fund Channel, and Sabadell Asset Management.
- Key appointments aim to accelerate private markets and alternative-asset growth, including new leads for deputy R&AA and direct investments.
- Distribution is also a priority, with new CEOs at Fund Channel and Sabadell AM to expand platform and fund-distribution capabilities.
- The moves build on a December 2024 reorganization that sharpened regional (Italy, UK, Asia) and product leadership at a €2.3tn+ asset manager.
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Amundi is executing a clear leadership reorganization aimed at aligning its senior executive team with strategic priorities such as alternative assets, private markets, global distribution expansion, and accelerating growth in specific regions.
Strengthening Real and Alternative Assets / Private Markets: The elevation of Alexandre Lefebvre to Deputy Head of Real & Alternative Assets, along with Claire Chabrier’s appointment as Head of Direct Investments-Private Markets, point to pushing further into asset classes outside traditional equities and fixed income. The company seeks to capture strong returns and fee margins in private markets, particularly among SMEs and mid-caps, as evidenced by Chabrier’s background.
Distribution and Platform Repositioning: With Pierre-Adrien Domon being appointed CEO of Sabadell AM and Michaël Martineau stepping in as CEO of Fund Channel, Amundi is emphasizing its ability to distribute products across multiple channels. The focus on platform innovation, including the launch of Fund Channel Liquidity, suggests a strategic priority to bolster scale and reach.
Regional and Product Focus Through Earlier Restructuring: The December 2024 reshuffle saw Amundi assign specific roles with regional and product clusters: Fannie Wurtz adding oversight of Asia to her distribution & wealth remit; Eric Bramoullé becoming CEO for the UK; Cinzia Tagliabue focusing on the Italian market; Alice de Bazin leading CPR AM; and a new Head of Marketing & Products appointed. These adjustments reveal a strategy to localize decision-making and product innovation close to market dynamics.
Strategic Implications and Risks: With over €2.3 trillion in AUM, these moves are backed by significant scale. However, success hinges on integrating these leaders effectively, avoiding siloed operations, and ensuring consistency across regions. As private markets carry longer investment horizons and higher risk, governance, transparency, and alignment with ESG mandates are likely to come under scrutiny. Also, given macroeconomic uncertainties (rates, inflation, regulatory shifts), agility remains critical.
Open Questions:
- How will Amundi maintain cohesion and corporate culture across increasingly diversified leadership and regional power centers?
- What is the roadmap for integrating sustainable investing and ESG oversight under the new structure, especially for alternative assets?
- How will the company balance fee pressures in its ETF/passive business (high scale, low margin) with fee opportunity in private markets (lower liquidity but higher expectation of return)?
- What are the accountability metrics being set for regional CEOs vs product line heads to ensure alignment with Amundi’s global strategy?
Supporting Notes
- On January 1, 2026, Amundi named Alexandre Lefebvre as Deputy Head of Real & Alternative Assets; Pierre-Adrien Domon as CEO of Sabadell AM; Michaël Martineau as CEO of Fund Channel; and Claire Chabrier as Head of Direct Investments-Private Markets.
- Domon has deep experience in distribution and platform work, having led Fund Channel’s Swiss unit, business development, and then steering Fund Channel itself since 2020.
- Martineau transitioned from COO of Fund Channel (2019) to Deputy CEO in charge of Products, Strategy & Innovation (2025), now CEO.
- Chabrier’s career traces back to Arthur Andersen; she joined Amundi’s private equity funds team in 2011 and served as Managing Partner, with involvement especially in investments in unlisted SMEs and mid-caps.
- In December 2024, additional leadership changes were made: Fannie Wurtz now oversees Asia in addition to existing responsibilities; Cinzia Tagliabue became CEO of Amundi in Italy; Eric Bramoullé was appointed CEO of Amundi UK; Alice de Bazin CEO of CPR AM; Gilles Cutaya Head of Marketing & Products.
- As of latest data, Amundi manages over €2.3 trillion in assets and operates with ~5,600 employees in 35 countries.