Search
But as everywhere sales online is not enoughSince then he was caught by urbanizationThe aspirations of each and the other join2 billion dollars to 100 million subscribersOf profits the latter could repay the 28Voices for propose us various solutions to avoid a new April 21What do you thinkI do not think the bonus CapSwitching the fire reassure and refoundingDupont he is looking at the Teddy Boys at Paul JoeThe success of La Banque Postale is WernerHis last months at Société Générale will decidedly was painful. Covered by a procedure of AMF that suspect of "breach of Insider" trading dating back to the summer in 2007, Jean-Pierre Mustier, head of the Bank Finance and investment (CIB) at the Kerviel case, left the Bank on a false new note. This X-Mines of forty-eight years, which has embodied for over fifteen years the "success story" of society generally in derivatives shares, resigned Thursday, precipitating a departure it programming at the end of the year.
Since the discovery of the fraud in January 2008 which cost was EUR 4.9 billion to the Bank, he was visibly shaken, and was very discreet. In private, he could be critical in the race for the profitability of investment banking and markets overheating before the crisis, and remained concerned about the future of the financial system. The best decisions are often those in which it opposed. That is why he avoided the trap Madoff for Société Générale. But Jean-Pierre Mustier also acknowledged errors, as that of not having put in place a nominal positions of traders, and not only differential control. It is he who has chosen to succeed him at the head of CIB, a man to the radically different personality of its own, Michel Pérétié, a former Paribas and Bear Stearns, to show that a page was indeed tour.
Deemed hard and demanding
Joined 26 years as a trader, Jean-Pierre Mustier was a product of the General, where it will surely leave a very significant footprint. With a handful of engineers, the son of a doctor of the Puy-de Dôme was one of the artisans of the tremendous momentum "derivatives actions" of the Bank in the 1980s. Since then, this business has generated half of CIB revenues, or even more. Deemed hard and demanding, very energetic and organized, Jean-Pierre Mustier was regarded as a leader of men and one of the best bankers of markets. Powerful and undisputed, it was one of alone can stand up to Daniel button. So as to appear as one of his potential successors. Until January 2008.
Once the case revealed Kerviel, he had submitted his resignation, denied by the Board of Directors of the Bank. Frédéric Oudéa, who wanted to keep this emblematic figure, chooses to give the restructuring of the activities of asset management, they also undermined by the crisis in the markets. Mustier races in the heat by proposing a merger with the Credit Agricole activities. The operation completed, he thought leaving the Bank at the end. "I'm leaving without compensation and without no deferred any kind of compensation, he entrusted the"Nouvel Observateur"." After the Kerviel affair, I consider that ethically, it was important that I leave the Bank. I accepted the mission of reorganization of the management of assets, without affecting the variable part of my salary and reversing the equivalent of my net salary to works of charity. "Rumours gave him with income exceeding EUR 10 million per year until 2007, while his wife, financial of Malaysian origin, is also multimillionaire.
"Personally convinced of the honesty of Jean-Pierre Mustier", Frédéric Oudéa estimated Friday that his departure was "the end of an era, a managerial transition" for the Bank. But after the trail, Kerviel, stock options, and now these suspicions of insider, Société Générale is struggling to turn the page of the business.
