AXA has announced that Marco Morelli is set to take over as Executive Chairman of AXA Investment Managers (AXA IM) and become a member of AXA’s Management Committee.
The ex-CEO of Monte dei Paschi di Siena will replace Gérald Harlin, who is set to retire from the role after 30 years with AXA.
Taking office on September 14, Morelli will be based in Paris and will report to AXA CEO Thomas Buberl.
Harlin, who is also AXA’s Deputy CEO, will remain a member of AXA IM’s Board of Directors following the appointment.
“I am very happy that Marcois is joining AXA,” said Buberl. “His 36 years of experience in banking and financial services, extensive knowledge of European markets and proven leadership will be key assets to further develop AXA IM, All the members of AXA’s Management Committee join me in wishing him the best in his new role.”
“I would like to warmly thank Gérald for his very significant contributions to AXA’s success and his decisive role in making the Group a world leader in insurance,” he added.
After various professional experiences in Europe at KPMG, Samuel Montagu Ltd and UBS Ltd, Morelli joined J.P. Morgan in 1994 and subsequently became CEO and General Manager of J.P. Morgan Italy and member of J.P. Morgan Europe executive committee.
He joined Monte dei Paschi di Siena in 2003 and became Deputy CEO in 2006, before leaving in January 2010 to become General Manager and Deputy CEO of Intesa San Paolo Group, a position he held until 2012.
He then joined Bank of America Merrill Lynch as Vice Chairman Europe, Middle East and Africa and CEO Italy. In September 2016, he became CEO and General Manager of Monte dei Paschi di Siena, a position he held until May 2020.
“I am honored to join AXA, a world leader in insurance, and to take over the management of AXA IM. I look forward to working with the teams and drawing on their recognized expertise to take AXA IM to a new stage of growth and development, in line with AXA’s strategy,” said Morelli.
AXA IM, 100% owned by AXA, is a global multi-asset investor with approximately €804 billion in assets under management as at end of March 2020, €+13 billion asset management net inflows and €1.2 billion asset management revenues in 2019.
