The trade body representing Europe’s €27tn fund management industry has named Candriam chief executive Naïm Abou-Jaoudé as its next president.

Abou-Jaoudé, who has been CEO of Franco-Belgian asset manager Candriam since 2007, was elected president of the European Fund and Asset Management Association at the trade body's general meeting on 11 June. He replaces Nicolas Calcoen, deputy general manager at Amundi, and will serve a two-year term in the role.