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Credit Agricole Picks Brassac as CEO Replacing Retiring Chifflet

Credit Agricole SA chose Philippe Brassac, a veteran, to become chief executive officer of France’s second-largest bank by assets, ending weeks of uncertainty over its senior management reshuffle.

Brassac, head of the federation of regional banks that controls Credit Agricole, will take the CEO job on May 20, replacing Jean-Paul Chifflet, who’s retiring, the Montrouge, France-based bank said in a statement today. Bloomberg News reported earlier today that the lender’s board was meeting, with Brassac as leading candidate for the succession.