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Pioneer head of LatAm and US offshore distribution resigns

Pioneer head of LatAm and US offshore distribution resigns

Pioneer Investment’s head of US offshore, Latin America and Iberian distribution José Castellano has resigned after over 16 years with the group.

Castellano’s exit comes as Amundi looks to finalize its acquisition of the group. It also follows the departure of Pioneer’s head of sales of US offshore, Jimmy Ly, and wholesaler Michelle Trilli earlier this year.

The Miami-based Castellano's responsibilities have been handed to Pioneer’s European and US teams.

Cinzia Tagliabue, head of Western Europe and Latin America, will take over responsibility for the firm’s distribution business across Iberia and Latin America.

Laura Palmer, head of US intermediary distribution, will now manage the firm’s US offshore team, based in Miami.

The firm said it has begun the process of hiring a new head of sales for US offshore to replace Ly, who left for Dutch asset manager Robeco in January.

Amundi announced the acquisition of Pioneer from the current owner UniCredit in December 2016.

The merger will make Amundi the eighth largest fund group in the world, with assets under management of around €1.2 trillion ($1.3 trillion).

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