Amundi has appointed Philippe Brassac as the new chair of its board of directors, as long-time executive Yves Perrier leaves the firm.

Brassac, who joined the board of directors in October 2022, has been CEO of Crédit Agricole since 2015, having worked at the company since 1982.

In February 2021, Perrier stepped down from his long-standing role as CEO of Amundi and took up the role of chair of the firm's board.

This temporary position was taken "to support the company during a transition period", the firm said.

Perrier's term will end on 12 May, following Amundi's annual general meeting, and he will be appointed honorary chair of the company.

Additionally, Perrier is set to become chair of the Edmond de Rothschild Group, following the promotion of the group's current chair, Ariane de Rothschild, to CEO.

Perrier was a key figure in the creation of Amundi, after Crédit Agricole and Société Générale merged their asset management businesses in 2010. He also led the firm's stock market listing in 2015.

In a statement, Brassac described Perrier as the "architect of the creation of Amundi" and said he extended his "warmest thanks" to his predecessor.

He added: "I would also like to underline the exemplary nature of the managerial transition carried out which has enabled Amundi - the 2021 and 2022 results attest to this - to confirm its profitable development momentum."

Perrier said: "Amundi has a robust business model and strong growth drivers for the future. I am certain that, under the leadership of Valérie Baudson and with the support of Philippe Brassac and Crédit Agricole Group, Amundi will continue its growth journey."