UniCredit and Pioneer Investments have announced that Sandro Pierri will be stepping down from his post as CEO of Pioneer Investments effective January 31, 2015.
Giordano Lombardo will ensure continuity of leadership for Pioneer’s business during this phase, the company said.
Lombardo has been with Pioneer for over 17 years, during which time he has been responsible for developing and leading Pioneer’s global investment management platform, currently serving as Deputy CEO and Group Chief Investment Officer.
Federico Ghizzoni, CEO of UniCredit, thanked Pierri “for his many contributions to Pioneer over the last eleven years, and especially during his two and a half years as CEO.”
UniCredit’s CEO also acknowledged that under Pierri’s leadership Pioneer has seen outstanding investment performance, posting approximately a total of €24bn net inflows over the past two years.
Sandro Pierri commented: “I want to thank Federico and UniCredit, as well as the Board of Pioneer Global Asset Management, for giving me the opportunity to lead Pioneer for the past two and a half years.”
The news follows that of UniCredit’s plans to sell Pioneer to Santander AM to create a transnational asset management company.