Nicolas Forest was named CIO at Candriam, effective May 1, a spokeswoman confirmed.
He will replace Vincent Hamelink, who was appointed CEO of the manager in January. Mr. Hamelink in turn succeeds Naim Abou-Jaoude, who was appointed CEO of New York Life Investment Management, Candriam's parent company.
Based in Brussels, Mr. Forest will lead 200 investment professionals, overseeing all of Candriam's investments. He is currently global head of fixed income and will be replaced by Philippe Noyard.
Mr. Noyard, currently global head of credit and deputy global head of fixed income, will lead a team of over 40 fixed-income professionals. Mr. Noyard, who is based in Paris, will not be replaced.
"With 20 years of experience in positions of responsibility at our company, Nicolas has proven his qualities as a manager and leader. I look forward to continuing Candriam's story with him at my side," Mr. Hamelink said in a news release Thursday. He added that Mr. Noyard "has a compelling track record as a credit manager and he will continue to bring his invaluable investment standards to an expanded team."
Candriam had €139 billion ($148.4 billion) in assets under management as of Dec. 31.
