SocGen CFO takes deputy chief executive role

Societe Generale has promoted CFO Frederic Oudea to the post of deputy chief
executive alongside Philippe Citerne and Didier Alix.

The promotion means that Oudea, who has been CFO since 2003, will sit above
SocGen’s head of investment banking Jean-Pierre Mustier, whose reputation took a
hit after the actions of rogue trader Jerome Kerviel, Reuters reports.

The actions of junior trader Kerviel cost the bank €4.9bn (£3.7bn) and have
left the bank vulnerable to a takeover from a rival.

Further reading:

SocGen failed to follow up 75 warnings

SocGen’s broking arm began watching rogue trader
last autumn

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