Carmignac Gestion has promoted Eric Le Coz to deputy managing director, which makes him co-responsible for the fund management team along with the company’s founder, Edouard Carmignac.

As a member of the investment committee, Le Coz has previously worked with the fund management team at the French investment boutique, helping it define its objectives and reach its goals. He also supervises the risk and reporting departments and product engineering, which he will continue doing in parallel with his new responsibilities.

Veteran fund manager Carmignac set up the company that bears his name in 1989. Bloomberg reported last year that the Frenchman has giant Warhol portraits of Lenin and Mao hanging on either side of his desk. “They are here to remind me never to take anything for granted,” he was quoted as saying.

Carmignac Gestion manages €50 billion (around $70 billion) of client assets.