UniCredit, the parent company of Pioneer Investments, has appointed Sandro Pierri as the new Head of Asset Management. A formal proposal of Pierri’s appointment as chief executive officer of Pioneer Investments will be made to the Pioneer Investments’ Board of Directors in July.

Pierri will replace Roger Yates, who will step down as CEO to return home to London to tend to “family commitments,” according to the firm. This change will be effective July 24, whereby Pierri will report directly to Federico Ghizzoni, chief executive of UniCredit.

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