Société Générale has made changes to the management of its Corporate and Investment Banking business for the second time this year after it announced plans for growth until 2010.
Christophe Mianné, previously co-head of the Global Equities and Derivatives Solutions division, will head all of the Corporate and Investment Banking market activities. He will have overall responsibility for the Fixed Income, Currencies and Commodities (FICC) division as well the Global Equities and Derivatives Solutions division.
SG says Mianné’s new responsibilities would lead to “the sharing of expertise and the creation of greater synergies”, between the FICC and the equities and derivatives businesses.
Luc François, previously co-head of the Global Equities and Derivatives Solutions division with Mianné, will take full responsibility for the business.
In January, SG appointed Marc Breillout and Grégoire Varenne to co-head FICC, with Paolo Taddonio as their deputy and head of the division for the Americas.
Their appointments coincided with the launch of the bank’s “Step-Up 2010” plan, which split the corporate and investment bank into four divisions: FICC; Global Equities and Derivatives Solutions; Capital Raising and Financing; and a client coverage division (Squawkbox, 25 September, 2006). The four pronged structure replaced a model based on two divisions covering corporate banking and fixed income, and equity and advisory.
François, Breillout and Varenne will report to Mianné, who is deputy to Jean-Pierre Mustier, chief executive officer of Société Générale Corporate and Investment Banking.
Mianné joined Société Générale in 1988 in the sales department of the derivatives group.