Andrea Rossi has decided to step down as chief executive of AXA Investment Managers as part of a number of changes to its leadership.
Rossi, who has been chief executive since 2013, will become a strategic advisor to Gérald Harlin, who has been appointed executive chairman of AXA IM.
Harlin, group deputy CEO and group CFO, has been made executive chairman "to implement the next phase of AXA IM's strategy with the aim of accelerating the company's development".
Harlin and Rossi will both take up their new roles on 1 December and all members of the AXA IM management board will report to Harlin from then on.
Christof Kutscher, who has been chairman of AXA IM's board of directors since 2014, has stepped down from his role. Harlin assumes the role of chairman of the board effective immediately.
Thomas Buberl, chief executive of AXA, said: "AXA IM is a core asset for AXA, and I am grateful that Gérald has accepted to take up this mission for the group and push back his retirement date.
"Building on the successful growth strategy and transformation led by Andrea over the last years, Gérald's experience and leadership will be instrumental in harnessing the potential and energy of AXA IM's teams, to initiate this new phase before handing over to his successor."
Harlin will remain group deputy CEO following the transition of his group CFO responsibilities to Etienne Bouas-Laurent at year-end 2019 as previously announced.
Harlin added: "The quality of AXA IM's investment teams, our diversified footprint on geographies and investment solutions as well as our strong convictions on ESG and active management are powerful assets that will help us progress AXA IM's strategic journey."
Brooks Macdonald has bought Edinburgh-based wealth and asset manager Cornelian Asset Managers for a fee of up to £39m.