Strauss-Kahn Puts N.Y. Case Behind to Chair Paris-Traded BankFabio Benedetti-Valentini
Dominique Strauss-Kahn, the former head of the International Monetary Fund, is buying a stake in a Paris-traded financial-services firm and is set to become its chairman.
Strauss-Kahn, 64, who quit the IMF under a cloud in May 2011, will help develop the investment-banking franchise of Luxembourg-based Anatevka SA, its current chairman Thierry Leyne said. Anatevka, which went public in March in Paris, will be renamed Leyne, Strauss-Kahn & Partners, Compagnie Financiere, or “LSK,” according to a company statement.
Strauss-Kahn “is going to subscribe to a capital increase and he will hold 20 percent of the capital,” Leyne said in a phone interview from Luxembourg today.
The move is part of efforts Strauss-Kahn, or DSK as he’s known in France, has been making to rebuild his post-IMF life after he was charged in 2011 of criminal sex, attempted rape, sexual abuse, unlawful imprisonment and forcible touching of a chambermaid at the Sofitel hotel in Manhattan. Strauss-Kahn denied the charges, which were later dropped, and he settled the maid’s lawsuit last year.
A former French Finance Minister and potential presidential hopeful for the Socialist Party in the 2012 French elections, Strauss-Kahn has been taking on consulting roles. In July, he was appointed to the supervisory board of the Russia Regional Development Bank, owned by oil producer OAO Rosneft. He is also advising the Serbian and South Sudan governments.
Anne Hommel, a spokeswoman for Strauss-Kahn, said he wasn’t available for comment on Anatevka.
Strauss-Kahn is slated to become LSK’s chairman on Oct. 18 after a shareholders’ meeting, while Leyne will be chief executive officer and will also be the chairman of the group’s units, according to the firm’s statement.
Strauss-Kahn “desired to give a structure” to his consultant and advisory missions, Leyne said. “We are going to develop the investment-banking activity.”
Leyne declined to give details on the company’s capital increase.
Anatevka rose 0.3 percent to 13.49 euros in Paris, giving it a market value of 50.4 million euros ($68 million).
Anatevka has a staff of about 100 people in six countries: Luxembourg, Belgium, Monaco, Israel, Switzerland and Romania. Anatevka has asset-management, corporate finance and insurance units, according to the statement.