Dec. 1 (Bloomberg) -- Credit Agricole SA, France’s third-largest bank by market value, named Jean-Yves Hocher as the new head of its corporate and investment-banking unit as part of a management shuffle.
Hocher, 55, Credit Agricole’s deputy chief executive officer overseeing the investment bank, insurance and asset management, becomes CEO of the division starting today, replacing Patrick Valroff, the Paris-based company said today in a statement. Valroff will remain within the unit at a position to be determined, a spokeswoman said by telephone.
Hocher, a life sciences engineering graduate, joined the Credit Agricole group in 1989 after a career at the French Agriculture Ministry and the French Treasury. He will manage the capital-markets businesses pending the appointment of a dedicated deputy CEO, the bank said.
Alain Massiera, a deputy CEO of the corporate and investment-banking unit since 2007, will be in charge of Credit Agricole’s private-banking business, the company said. Francis Canterini, 63, becomes a deputy CEO of the CIB unit, overseeing support functions.
Pierre Cambefort, a deputy CEO at the CIB unit since September, is taking over responsibility for coverage, investment banking, corporate banking and international networks, Credit Agricole said.
Valroff took over the division from Marc Litzler in 2008 following subprime-related losses and helped return it to profit.
To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at Fbenedettiv1@bloomberg.net.