Following their meetings of 30 November and 1 December 2010, the Boards of Directors of LCL, Crédit Agricole Assurances, Pacifica and Crédit Agricole CIB have announced a number of changes to their executive management teams.
At its meeting of 30 November 2010, the Board of Directors of LCL noted the request from Chief Executive Officer Christian Duvillet, aged 62, to exercise his rights to retirement. He will be replaced by Yves Nanquette, aged 57, currently Chief Executive Officer of the Crédit Agricole d’Ille-et-Vilaine Regional Bank as of 1 January 2011.
The Board of Directors thanks Mr Duvillet for his commitment to the Crédit Agricole Group since 1976. Mr Duvillet spent the majority of his working life at the Crédit Agricole Regional Banks. He was notably Chief Executive Officer of the Charente-Périgord Regional Bank and the Aquitaine Regional Bank from 1992 to 2005.
After this he joined the Executive Management team at LCL, where he engineered the bank's recovery, developing and successfully implementing the Crescendo strategic development plan. He is leaving the company in a strong position for the next stages of its development.
CREDIT AGRICOLE ASSURANCES
At its meeting of 1 December, the Board of Directors of Crédit Agricole Assurances, the Crédit Agricole Group's insurance holding company, noted the request from Chief Executive Officer Bernard Michel, aged 62, to exercise his rights to retirement.
He will be replaced by Jérôme Grivet, aged 48, Chief Executive Officer of Predica since 1 September 2010, as of 1 December 2010. Mr Grivet will continue to fulfil his duties as Chief Executive Officer of Predica.The Board of Directors of Crédit Agricole Assurances paid tribute to the work done by Mr Michel at the Crédit Agricole Group.
Having joined Crédit Agricole in 1996 as CNCA's Corporate Secretary, Mr Michel was Deputy Chief Executive Officer from 1998 to 2003 and Chairman of Crédit Agricole Immobilier. In 2003, he became Head of Operations and Logistics at Crédit Agricole S.A., leading to the role of Chairman of Silca, Crédit Agricole S.A.'s IT subsidiary, from 2005 to 2006. In 2006, he was appointed Head of Property, Purchasing and Logistics and Vice-Chairman of Predica, becoming Chief Executive Officer in October 2008.
In January 2009, he oversaw the creation of Crédit Agricole Assurances, encompassing all of Crédit Agricole S.A.'s French and international insurance companies, and one of the biggest names in the market in France and Europe.
A graduate of the École Nationale des Impôts, Mr Michel holds the title of Senior National Auditor. He began his career with the French National Taxation Office (1970-1983), then the National Audit Office of the Ministry of Finance (1983-1987). He joined GAN in 1987, where he became Acting Chief Executive Officer and Chairman of Socapi (the bancassurance subsidiary of GAN and CIC). He was Chairman of Banque Régionale de l’Ouest (CIC) from 1994 to 1996.
At its meeting of 1 December 2010, the Board of Directors of Pacifica noted the request from Chief Executive Officer Patrick Duplan, aged 61, to exercise his rights to retirement.
He will be replaced by Thierry Langreney, aged 50, Head of International Insurance at Crédit Agricole Assurances, as of 1 December.
The Board of Directors of Pacifica has paid tribute to Mr Duplan's career with, and commitment, to the Group. Having joined Crédit Agricole as Chief Executive Officer of CAMCA (1987-1991), he was appointed Deputy Chief Executive Officer of Pacifica when it was created in 1989. Mr Duplan became Chief Executive Officer of Pacifica in 1999, helping to make Crédit Agricole's non-life insurance subsidiary one of the leading non-life insurers in France.
Mr Duplan holds qualifications from the Institut des Actuaires Français, the Centre des Hautes Etudes d’Assurances (CHEA) and the Statistics Institute of the University of Paris (ISUP). He also holds a degree in mathematics. He was Director of Abeille Assurance from 1978 to 1987 before joining the Crédit Agricole Group.
CREDIT AGRICOLE CIB
On 1 December 2010, the Board of Directors of Crédit Agricole CIB accepted the request from Patrick Valroff, aged 62, to stand down as Chief Executive Officer. He will be succeeded as of 1 December 2010 by Jean-Yves Hocher, aged 55, who will continue his duties as Deputy Chief Executive Officer of Crédit Agricole S.A.
In May 2008, Mr Valroff was appointed Chief Executive Officer of Calyon (which became Crédit Agricole CIB in 2009). The Board praised him for the commitment that he showed and the major role that he played in the implementation of Crédit Agricole CIB’s refocusing and business development plan. The plan, launched in September 2008, has paid off and Crédit Agricole CIB has generated a profit for three consecutive quarters.
The Board of Directors also approved a new organisational structure for Crédit Agricole CIB's Executive Management team as of 1 December 2010.
Pierre Cambefort, aged 46, Deputy Chief Executive Officer since 1 September 2010, is taking over responsibility for Coverage, Investment Banking, Corporate Banking and the international network;
Francis Canterini, aged 63, Head of Risk Management and Permanent Control at the Crédit Agricole Group since February 2009, has been appointed Deputy Chief Executive Officer in charge of Support Functions.
Alain Massiera, aged 56, Deputy Chief Executive Officer of Crédit Agricole CIB since October 2007, will be head of the Crédit Agricole S.A. Group's Private Banking business as of 1 December 2010.
CREDIT AGRICOLE S.A.
Within Crédit Agricole S.A., Hubert Reynier, aged 48, Deputy Head of Risk Management and Permanent Control at the Crédit Agricole Group since June 2010, has been appointed Head of Risk Management and Permanent Control at the Crédit Agricole Group as of 1 December 2010, replacing Francis Canterini.