The investment manager, which specialises in sustainable and responsible investing, said this would help bolster the teams as they focus on risk management.
Forest had been Candriam’s global head of fixed income since 2013 and the appointment follows the recent appointment of Vincent Hamelink, Candriam’s current CIO, as the new chief executive-elect of Candriam.
Hamelink will take over from Naïm Abou-Jaoudé, who will assume the role of chief executive of New York Life Investment Management, Candriam’s parent company.
According to Candriam, Forest will be responsible for leading a team of over 200 investment professionals, overseeing all of Candriam’s investment platforms, including fixed income, equities, absolute return, asset allocation and sustainable investment.
He will be based in Brussels, one of Candriam’s four investment centres.
Philippe Noyard, currently global head of credit and deputy global head of fixed income, and in the group since 1989, will succeed Forest as global head of fixed income.
Forest, said: "I am honoured to become Candriam’s new CIO.
"We will remain committed to our core values of conviction and responsibility, while prioritising talent and teamwork, and enhancing our commitment in key areas such as risk management, robust investment processes and identifying market opportunities.
"This approach will enable us to continue to strive for optimal risk-adjusted returns for benchmarked and absolute return strategies, while fostering client trust over the long-term.”
