Sandro Pierri, the chief executive of BNP Paribas Asset Management, has been elected president of Europe’s main fund management trade body — months after the Brussels-headquartered association brokered a compromise to win back German members by removing corporates from its board.

Pierri, who before joining BNP Paribas Asset Management in 2016 spent almost a decade at Pioneer Investments, replaces Naïm Abou-Jaoudé, New York Life Investment Management boss. Abou-Jaoudé had been president of Efama since 2021.