Pioneer Investments has suspended two senior executives in Dublin over claims they had been involved in plans to establish another asset management firm, according to reports.
Tanguy Le Saout, head of European fixed income and Ali Chabaane, head of portfolio construction for several asset classes, were reportedly suspended over the allegations.
Le Saout joined Pioneer Investments in 1999 and oversaw all European fixed income portfolio management and European credit research.
Chabaane left his role as head of credit risk modelling at BNP Paribas in 2005 to join Pioneer as head of portfolio construction.
Pioneer Investments declined to comment when contacted by The TRADE.
The reports follow news of Pioneer’s parent company Unicredit, entering into talks to sell the asset management unit to Amundi in a deal worth an estimated €3.5 billion.
In November, Pioneer announced its emerging markets fixed income range reached record level of assets under management, due to record net sales of over €1.5 billion.
Yerlan Syzdykov, head of emerging market bond and high yield at Pioneer, explained the Emerging markets fixed income universe has seen “material growth since the 2008 financial crisis.”
“Spurred on by lower sovereign debt levels and high macroeconomic growth rates, the asset class has experienced a substantial market deepening,” he added.