French fund manager Natixis has recruited the chief operating officer at Axa Investment Managers to take up the same role; a move announced alongside the exit of Matthieu Duncan, chief executive of one of its major subsidiaries.

Joseph Pinto, who has worked at Axa since 2007 and been chief operating officer for five years, is set to join Natixis “in the coming months”, according to an October 16 statement. He will report to chief executive Jean Raby.