Patrick Fauchier, a founder of Fauchier Partners, a fund of hedge funds manager half-owned by BNP Paribas Asset Management, is stepping up from chief executive to executive chairman.

He will take responsibility for the "strategic positioning" of the €3.2bn ($3.8bn) business and his previous duties will be spread more among the partners, the company said.

Fauchier makes way for 'younger generation'

Mark Cobley

BNP Paribas

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