Don't miss

Replay


LATEST SHOWS

FASHION

Paris Men's Fashion, Fall/Winter 2015: Freedom of speech triumphs

Read more

BUSINESS DAILY

Greece 'set to run out of money by March'

Read more

MEDIAWATCH

Twitter storm as IMF boss Lagarde hails late Saudi king as 'strong advocate of women'

Read more

IN THE PAPERS

'Syriza has opened a breach'

Read more

IN THE PAPERS

Greece's political earthquake

Read more

WEB NEWS

Hashtag battle over Venezuelan president's address to nation

Read more

EYE ON AFRICA

DR Congo: Senate amends controversial constitutional law

Read more

THE WORLD THIS WEEK

Pope and family planning: Heated debate over pontiff's 'rabbit' comments (part 2)

Read more

WEB NEWS

Facebook is cracking down on viral hoaxes

Read more

Business

New chairman for French Societe Generale

Latest update : 2009-05-07

Frederic Oudea, 46, is the new chief executive of Societe Generale, the French bank rocked by a mammoth trading scandal last year. He was appointed a week after former chairman Daniel Bouton resigned.

AFP - The chief executive of French bank Societe Generale, an institution rocked by a mammoth trading scandal last year, was named Wednesday to replace chairman Daniel Bouton.

Frederic Oudea, 46, was appointed a week after Bouton resigned, citing "repeated personal attacks" that he said risked hurting the bank. Bouton had been in the top post for 10 years.

Oudea, the bank's CEO since April 2008, had been widely expected to take over from Bouton. The bank announced his appointment in a statement.

Societe Generale shocked the financial world in January 2008 when it announced losses of 4.9 billion euros (6.5 billion dollars) that it blamed on unauthorized deals made by 31-year-old trader Jerome Kerviel.

Kerviel is awaiting trial on charges of breach of trust, fabricating documents and illegally accessing computers.

 

Date created : 2009-05-06

COMMENT(S)