After 27 years in the group, and nearly 17 as chief executive, Henri de Castries is retiring as chairman and chief executive of Axa Group, effective 1 September 2016.
Following a board decision to split his role, de Castries’ replacement as chairman has been named as Denis Duverne, with Thomas Buberl stepping into the chief executive role.
A French national, Duverne is currently a director and deputy chief executive in charge of finance, strategy and operations. He joined Axa in 1995 and assumed oversight of the firm’s operations in the US and UK and managed the reorganisation of Axa companies in Belgium and the UK.
German-born Buberl is currently chief executive of Axa Germany, chief executive of Axa’s global health business, and chief executive of its global life and savings business. He relocated to the group’s head office in Paris on Monday and has been appointed deputy chief executive for the transition period.
Muhammed Yesilhark has resigned from French asset management firm Carmignac for personal reasons, two years after joining the company as head of European equity.
He left the firm on 18 March having joined from SAC Capital Advisors in January 2014.
Based in the firm’s London office, Yesilhark ran two funds at Carmignac, both of which have lost money over the past year, according to the Financial Times.
Investment management firm Quilter Cheviot has expanded its team with two regional UK hires. Adam Hughes joins Quilter Cheviot’s Salisbury office as investment director, having worked at wealth management firm Ashcourt Rowan for 20 years, most recently as head of managed portfolio services.
Owen Jennings joins Quilter Cheviot’s Bristol office as an investment manager from Investec and brings 10 years’ of financial services experience with him. He is a chartered member of the Chartered Institute of Securities and Investment and holds a Masters in wealth management.
Independent investment consultant Redington has appointed Mitesh Sheth as chief executive, effective 5 April.
Sheth, who is currently Redington’s director of strategy, joined the firm in 2013. He will take over the chief executive role from co-founders Robert Gardner and Dawid Konotey-Ahulu who have jointly held the position since the company was established in 2006.
Stephen Osmont has been appointed associate director of Elian’s real estate division in Luxembourg. With more than 15 years’ experience in financial services, Osmont will relocate from Jersey to Luxembourg to take up his new role.
Osmont will be responsible for maintaining and growing Elian’s portfolio of real estate and corporate clients. Following the acquisition of SFM Europe in 2015, he will also work with the SFM team to identify cross-selling opportunities within the businesses and continue the integration of the two companies.
Cyrus Investment Management
Engineering turnaround EIS investment adviser Cyrus Investment Management (CIM) has appointed Stuart Lawrence to the newly created role of strategic investment manager. He has also been named managing director of UK security door manufacturer Rhino Doors, in which CIM is invested.