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Amundi Pioneer shakes up US offshore distribution team after senior exit

Amundi Pioneer shakes up US offshore distribution team after senior exit

Amundi Pioneer has reshuffled its US offshore and Latin America distribution team following the exit last week of Michelle Boquiren Urben, the former chief executive of Amundi Distributors USA.

Amundi completed its purchase of Pioneer Investments on July 3, and on October 3 Amundi Distributors USA's New York-based business terminated its registration with US regulators Finra and the SEC. The licences of that unit are now held by Amundi Pioneer Distributor, according to statement from the firm's spokesman Geoff Smith. 

Following the closure of Amundi's New York business, Boquiren, who over the last three and a half years was responsible for its US offshore and Latin American distribution business, is no longer with the group.

Laura Palmer, head of US intermediary and offshore distribution at Amundi Pioneer, will continue to lead Amundi Pioneer Distributor.

Thomas Johnston, who previously worked alongside Boquiren at Amundi's New York office, has been appointed as a senior wholesaler and will relocate to Miami to support Amundi Pioneer's US offshore and Latin America efforts. He will be covering the market in concert with Nuno Loureiro, who comes from the Pioneer side of the business.

Johnston will also manage the Texas region on an interim basis. 

Alejandro Espina, also formerly with Amundi in New York, will assume coverage of the New York region for the newly joined business while also covering the West Coast on an interim basis. The firm has also recently hired Felix Canela as internal sales support, based in Miami. 

In the coming months, Amundi Pioneer will look to hire two additional offshore wholesalers for the Texas & West Coast regions.

In the statement, Smith said: ‘Our offshore business is an important part of our organization and we plan to continue focusing on this business going forward. An experienced team of dedicated individuals in the US offshore and Latin America region remains in place, and we will be looking to expand further in the coming months.’

On Boquiren's departure the firm said: ‘We thank her for her dedication and many contributions and wish her well in the future.’ 

Boquiren could not comment on her next steps but in a statement to Citywire Americas she said: ‘I’d like to extend my thanks to my colleagues across the globe in Europe, Asia and in the United States, specifically in New York, Durham, Boston and Miami. My success is largely due in part to my clients. I truly value their support and trust and look forward to working with them again in the future.’

Ahead of the merger with Amundi, Pioneer Investments saw a number of exits from its senior distribution team, including Jose Castellano, who was head of US offshore, Latin America and Iberia, Jimmy Ly, who was head of sales of US offshore, and wholesaler Michelle Trilli. 

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