Soc Gen shuffles its staff

SOCIETE Générale has hired former Credit Agricole executive Bertrand Badré as its new chief financial officer after a surprise reshuffle.

Current CFO Didier Valet will move sideways to become the head of Soc Gen’s corporate and investment banking arm, starting on 3 January.

His move comes after current investment banking chief Michel Péretié said he “has decided to pursue other opportunities outside the bank”, the French firm said in a statement.

Société Générale Corporate and Investment Banking will also see Christophe Mianné take over as deputy chief executive in charge of global markets, operations and IT.

Frédéric Oudéa, chief executive and chairman of the banking group, thanked Péretié for his support “especially in this financial crisis environment” and said Valet “will be key to drive the adaptation” of the bank in these circumstances.