Christian Oyarbide, appointed temporary chief executive at the €10.2bn French pension fund UMR earlier this year, will see his contract extended until next year.

Oyarbide, who became head of UMR in May, replacing Charles Vaquier, was originally appointed until August 2013.

However, UMR’s temporary chief executive will stay in his role until August 2014, IPE understands.

Until May this year, Oyarbide was a consultant at French consultancy Cogidées, where he advised on social codes of practice.

Oyarbide replaced Vaquier after he decided to step down at the end of March.

Vaquier, who has served as chief executive at UMR since December 2002, has started a new part-time role as an associate for an actuarial consultancy in Paris.

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