Axa Investment Managers is to retire its Framlington brand as it reorganises its equities business under a single boss.
From 1 January 2022, Axa IM’s fundamental business, Framlington Equities, and quant division, Rosenberg Equities, will come onto a newly created platform, simply called Axa IM Equity.
Current global head of Framlington Equities Mark Hargreaves will step up to oversee the platform. He will retain his current portfolio management duties, which include being co-manager on the Axa Framlington Global Thematics fund.
As part of the move, Axa will phase out its Framlington name and rebrand its Rosenberg business as Equity QI. Paul Flavier, who is head of Axa IM’s quants business, will stay on in his role and report to Hargreaves from next year.
The changes leave Axa IM with three core businesses – Axa IM Equity, Axa IM Fixed Income, led by Marion Le Morhedec, and Axa IM Multi-Asset, headed by Serge Pizem. All three divisions are overseen by Hans Stoter, head of Axa IM Core.
Stoter said: “I am confident that the creation of the Axa IM Equity platform under the single leadership of Mark will bring clarity and simplicity to our clients when it comes to our equity offering and will help accelerate the profitable growth of our equity business thanks to the synergies the combination of our fundamental and quant capabilities will enable”.
At the end of June Axa IM’s active equity business had €71bn in assets under management.
