Frederic Michel-Verdier leaves IFM after 11 years

IFM’s executive director for Europe has left to ‘pursue personal business interests’, IFM says.

Frederic Michel-Verdier has left his post as an executive director in Europe at IFM Investors  after 11-and-a-half years, Infrastructure Investor has learned.

IFM said in a confirmatory statement that Michel-Verdier, who joined the Australian fund manager in April 2008, had left at the end of August to “pursue personal business interests”.

“Since 2008, Mr Michel-Verdier has been instrumental in developing the London office through strategic relationships and partnerships for the long-term benefit of our investors and their members and has played a key role in a number of our most successful infrastructure investments including the acquisitions of Veolia Poland, FCC Aqualia, Mersin International Port and Deep Container Terminal Gdansk,” the company said. “We wish him all the very best for the future. We are in the process of replacing Mr Michel-Verdier with an equivalent investment executive.”

Earlier this year, IFM made a £270,000 ($354,000; €312,000) settlement to former employee Nathalie Abildgaard, who had taken the firm to a London employment tribunal over alleged constructive dismissal and sexual harassment. The case centred around alleged sexual harassment by Michel-Verdier towards Abildgaard in Madrid in March 2018. IFM and Abildgaard said in March this year that the settlement did not represent an acceptance of guilt by IFM or Michel-Verdier.

Michel-Verdier’s departure is not believed to be directly related to the case.

His role at IFM meant he was responsible for relationship and partnership development as well as sourcing, evaluating, implementing and managing investments.