Morningstar warns of manager exodus at AXA IM

Overhaul of operating model

Morningstar's Mathieu Caquineau has warned AXA Investment Managers' overhaul of its operating model could result in key portfolio managers leaving the firm.

Last week AXA IM announced organisational and structural changes to its business in efforts to drive future growth, which could result in 210 employees exiting, around 40 of which would be in the UK. The firm's chief economist, global head of multi-asset client solutions and head of research Laurence Boone has left to join the OECD. Her multi-asset client solution role will be taken up by NNIP's Hans Stoter, who joins as head of global fixed income. AXA IM's Nigel Thomas to retire Stoter also replaces AXA IM's current global head of fixed income and structured finance John Port...