Crédit Agricole S.A. strengthens its senior management organisational structure in line with its 2008-2010 development plan
Following the proposal made by René Carron, Chairman of Crédit Agricole S.A., and Georges Pauget, Chief Executive Officer of Crédit Agricole S.A., on 1 October, the Board of Directors of Crédit Agricole S.A. approved the appointment of Jean-Yves Hocher and Bernard Mary as Deputy Chief Executive Officers, alongside Jacques Lenormand and Jean-Frédéric de Leusse.
After the successful capital increase in June 2008 and Calyon's refocusing plan in September, this reorganisation forms the third part of Crédit Agricole S.A.'s plan to adapt to the new global financial environment and to prepare for a post-crisis era. It reflects the Crédit Agricole S.A. Group’s priorities, as set out in its 2008-2010 development plan presented at the time of the capital increase. These priorities are to develop its core bancassurance business, both in France and internationally, and to strengthen its specialised business lines and the role of its strategic and financial support functions.
The Board of Directors of Crédit Agricole S.A. was also informed of Crédit Agricole S.A.'s new detailed organisational structure including the new composition of the Executive Committee.
The Regional Banks Development, Payment Systems and Insurance division, overseen by Jean-Yves Hocher, comprises:
- Regional Banks Development, headed by Jean-Pierre Vauzanges;
- The Group's Payment Systems and Services business, including the payments department and Cedicam (the Group's payment flows and systems subsidiary), headed by Gilles Grapinet;
- The Insurance business, encompassing Predica, Pacifica, credit insurance and international insurance, headed by Bernard Michel, who becomes Chief Executive Officer of Predica.Crédit Agricole S.A.'s retail banking activities division, overseen by Bernard Mary, comprises:
- LCL, headed by Christian Duvillet;
- International retail banking, headed by Marc Carlos;The specialised business lines division, overseen by Jean-Frédéric de Leusse, comprises:
- Corporate and investment banking, headed by Patrick Valroff;
- Asset management, investor services and institutional financial services, headed by Yves Perrier;
- Private banking, private equity and real estate, headed by Gilles de Margerie;
- Specialised financial services (Sofinco, Finaref, Crédit Agricole Leasing and Eurofactor), headed by Jérôme Brunel.The Group's Finance and Strategy division, overseen by Jacques Lenormand, comprises:
- Finance, headed by Bertrand Badré;- Human Resources, Strategy and Information Systems, which will report directly to Jacques Lenormand on a temporary basis;
- Economic Research, headed by Jean-Paul Betbèze;
- Communications, headed by Alexandra Rocca.The following departments report directly to the Chief Executive Officer:- Risk Management and Permanent Controls, headed by Alain Strub;
- Group Internal Audit, headed by Philippe Dumont;
- French and International Management Development, headed by Marie-Christine Dumonal.This new organisation will be effective as of 15 October 2008.