Sanofi Said Close to Hiring Morgan Stanley Banker as Head of M&Aby and
Alban de La Sabliere is managing director at Morgan Stanley
Appointment would be latest in management shakeup this year
Sanofi, France’s biggest drugmaker, is close to hiring Morgan Stanley banker Alban de La Sabliere as its new head of mergers and acquisitions, according to people with knowledge of the matter.
The Paris-based banker is close to signing an agreement, said the people, who asked not to be identified before a public announcement. De La Sabliere has been a managing director at Morgan Stanley, which he joined in 2009, according to a LinkedIn profile. The negotiations aren’t final and may still fall apart, the people said.
De La Sabliere, Morgan Stanley and Sanofi declined to comment.
Chief Executive Officer Olivier Brandicourt, who joined Sanofi in April, is reshaping the company to prepare for sluggish earnings growth over the next two years amid declining sales of its best-selling insulin, Lantus. Brandicourt last month said he aims to cut costs by 1.5 billion euros ($1.6 billion) and signaled a potential sale of the animal-health unit and the European generics business.
Other changes at the firm include plans to create three new business units at the start of 2016, and a reshuffling of responsibilities among some of its top managers.
In May, Sanofi said it hired Suresh Kumar, previously at financial consultant Oliver Wyman, to head external affairs and become a member of its executive committee. Chief Strategy Officer David-Alexandre Gros, who oversaw business development and M&A, left that same month, which led to a decision to have Sanofi’s M&A department report into Chief Financial Officer Jerome Contamine.
Sanofi was working with a search firm to find a replacement for the vice president of M&A, Jerome Delpech, people with knowledge of the matter said in September. Delpech was still in the role at that time.