Nicolas Moreau, the global head of Axa Investment Managers, has been promoted to group chief executive of parent Axa in the UK. He succeeds Dennis Holt, who is to retire at the end of June.

Dominique Carrel-Billiard, currently senior vice-president in charge of business support and development for the asset management, US insurance activities and the reinsurance activities of the Axa Group, will take over from Moreau as chief executive of Axa Investment Managers.