Ex-CEO’s Taste for Risk Proved His Undoing at French Bank Natixis
- CEO is ousted as losses from equity derivatives deepen
- His replacement suggests ‘significant strategic repositioning’
This article is for subscribers only.
Francois Riahi never quite managed to put out the fires in an abbreviated two-year tenure as Natixis SA chief executive officer.
Just six months into his stint, a trading meltdown in Asia landed the French lender with a $300 million loss. High-risk trades helped to end his career atop the French lender on Monday, when he was ousted following deepening losses from equity derivatives.