Sycomore Asset Management has hired the former head of multi-asset at BNP Paribas Asset Management as its new chief executive.

Denis Panel has joined Sycomore AM, part of Generali Investments, to replace Emeric Préaubert, who co-founded the firm in 2001.

Préaubert has stepped down from his operational role but remains a member of the supervisory board.

Until recently, Panel served as global head of the multi-asset, quantitative and solutions (MAQS) division at BNP Paribas AM.

In that role, he spearheaded the development of its ETF strategy and emphasised responsible investing, with the launch of the first Low Carbon ETF in 2008.

Panel began his career in 1994 at Société Générale AM, where he served as a fixed income fund manager, before joining Crédit Agricole AM in 1997, where he was appointed global head of multi-asset investments in 2004. 

The new CEO, who will assume his new duties from 3 April 2023, is tasked with reinforcing Sycomore AM's position as a responsible investment fund manager.

He will take an active part in the development of the business, accelerating international growth, strengthening investment processes and deploying new initiatives across the firm's financial offering. In coming months, his priorities will include reviewing the firm's product strategy.

Panel said: "I am very happy to be joining the teams at Sycomore AM, a leading player in the field of sustainable investment, and supporting the firm as it writes a new chapter in its development. 

"Together, we shall build upon a rich history of strong performances and meaningful investments as we lead the company forward into a new stage of growth".