Isabelle Scemama has been appointed chief executive of AXA Investment Managers – Real Assets.
She will also join the management board of AXA Investment Managers, replacing Pierre Vaquier, who is leaving the firm to pursue other interests.
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Scemama, who is best known for driving AXA’s real estate lending business, was previously chief executive of AXA REIM SGP, the French-regulated entity of AXA IM – Real Assets.
She was responsible for the funds group which includes a wide range of real estate funds, including the AXA CoRE Europe fund which launched in December 2015.
A new management board has been put in place to assist Scemama in the strategic decision-making and operational management of the company, as well as ensuring a smooth leadership transition:
- Ruulke Bagijn, global head of real assets private equity remains in the same role, focusing on the development of the equity infrastructure platform;
- Sébastien Herzog, global chief financial officer, chief operating officer & corporate secretary remains in the same role, responsible for finance, operations, legal, risk & compliance, as well as marketing & communication;
- Laurent Lavergne, currently head of separate accounts, adds responsibility for international development in US and Asia;
- Dennis Lopez remains chief information officer and global head of sales, adding responsibility for global transactions.
In addition, two executive committee members have been appointed to the management board, bringing a wealth of experience from their current roles within AXA IM – Real Assets:
- Timothé Rauly, previously head of CRE finance & core funds business line, becomes head of funds group, overseeing fund activity;
- Andrew Stainer, currently head of Northern region, asset management & transactions, is appointed global head of asset management.
The rise of Isabelle Scemama
Scemama has been with AXA IM – Real Assets for 15 years, having joined in 2001 to head its real estate fund structuring and financing practice.
In 2005, she launched the CRE Loans activity, which she has grown into a platform that manages over €10bn (£8.5bn) of investment mandates on behalf of both AXA insurance companies and multiple third party institutions.
In 2013, she also took on responsibility for the launch of AXA IM – Real Assets’ infrastructure lending platform, an initiative that was initially established to invest up to €10bn in the infrastructure market on behalf of the AXA Group, and which at the end of 2016 was extended through the launch of a co-mingled infrastructure debt fund which had raised €730m (£621.5m) from third parties as of November 2016.
Scemama started her career in 1989 in the large cap corporate financing department at Paribas before joining its real estate financing department in 1995, where she was responsible for the financing of investors.
She said: “The firm has been a success story since its very creation and it is an exciting challenge, and great responsibility, to have the opportunity to lead it through the next phase of its evolution with our new management board, particularly in an environment where demand from investors for real assets has never been so high.
“Looking ahead, I am confident that the company will be able to capitalise on the distinctive strengths it has continued to establish and reinforce, year after year, while further addressing our clients’ needs and facing the new challenges of our industry.”
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