Dominique Ferrero will be appointed advisor to François Pérol, Chairman of the Board of Directors
By decision of François Pérol, Chairman of the Executive Board of Caisse Nationale des Caisses d’Epargne (CNCE) and Chief Executive Board of Banque Fédérale des Banques Populaires (BFBP), the renewal of Dominique Ferrero’s mandate as Chief Executive Officer will not be submitted to the Board of Directors at its meeting following the General Shareholders’ Meeting of April 30, 2009. The Board of Directors determines the administration policy of the company. Dominique Ferrero will be appointed advisor to François Pérol, Chairman of the Board of Directors.
This decision is in line with the creation of the new group formed by merging Groupe Banque Populaire and Groupe Caisse d’Epargne. It is another step in the implementation of Natixis’ restructuring plan.
François Pérol pays tribute to the work accomplished by Natixis’ management team headed by Dominique Ferrero in light of the extremely difficult conditions the company had to face ever since its creation.
The appointment of Laurent Mignon to the position of Chief Executive Officer will be submitted to the Board meeting held right after the general shareholders’ meeting of April 30, 2009. Laurent Mignon will also become a member of the Executive Committee of the new central body.
Laurent Mignon has been Managing Partner of Oddo & Cie alongside Philippe Oddo since September 2007. He was responsible for Oddo Asset Management and Oddo Corporate Finance. He was also in charge of permanent control.
Before that, Laurent Mignon was Chief Executive Officer and Chairman of the Executive Committee of AGF Group, Chairman of the Executive Committee and member of the Executive Committee of Allianz from January 2006 to June 2007. He joined AGF in 1997 as Chief Financial officer and was appointed member of the Executive Committee in 1998. He then headed several sectors in 2002 including Investments, Banque AGF, AGF Asset Management, AGF Immobilier and, in 2003, Life and Financial Services sector (asset management, banking activities, real estate) and of Credit Insurance (Groupe Euler & Hermes).
Before joining AGF Group, Laurent Mignon held several positions for ten years in the banking sector, from trading rooms to Corporate Finance, such as trader and then Head of currency rates options activities at Banque Indosuez (1986-1990), Vice-director of Financière Indosuez, a subsidiary dedicated to Corporate Finance (1990-1995). In 1996, he was Responsible M&A activities for financial institutions in France at Schroders Bank (London, 1996).
In addition to his functions at Oddo & Cie, Laurent Mignon is a member of the Board of Directors and Strategy Committee of Sequana, and member of the Board of Directors and of the Audit Committee of Arkema.
Laurent Mignon, 45 years old, is married with 3 children. He is a graduate of HEC and of the Stanford Executive Program.
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About Groupe BPCE
Groupe BPCE is the second-largest banking group in France. Through its 100,000 staff, the group serves 35 million customers – individuals, professionals, companies, investors and local government bodies – around the world. It operates in the retail banking and insurance fields in France via its two major networks, Banque Populaire and Caisse d’Epargne, along with Banque Palatine and Oney. It also pursues its activities worldwide with the asset & wealth management services provided by Natixis Investment Managers and the wholesale banking expertise of Natixis Corporate & Investment Banking. The Group's financial strength is recognized by four credit rating agencies with the following senior preferred LT ratings: Moody's (A1, stable outlook), Standard & Poor's (A, stable outlook), Fitch (AA-, negative outlook) and R&I (A+, stable outlook).
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