Nicolas Namias appointed head of the BPCE group

Nicolas Namias appointed head of the BPCE group

The transfer window continues in the banking sector. Nicolas Namias will take over the reins of the BPCE group from December 3. His appointment as chairman of the management board was decided on Friday, October 28 by the company’s supervisory board, which brings together, among others, the Banque Populaire and Caisse d’Epargne networks.

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Currently managing director of the corporate and investment bank Natixis, a subsidiary of BPCE, the 40-year-old will take over from Laurent Mignon, expected to head the Wendel investment fund. Quoted in a press release, Mr. Namias declared himself “particularly happy and proud” of this decision. “Along with all the group’s leaders, I will be keen to continue developing all of our businesses”he continues.

A healthy bank

The supervisory board decided after a great oral from the last two contenders: Nicolas Namias, therefore, and Daniel Karyotis, current director general of the Banque Populaire Auvergne-Rhône-Alpes. The body is made up of nineteen members: seven “red” (from the savings banks), seven “blue” (from the popular banks), three independents and two employee representatives.

Nicolas Namias had held the position of Chief Executive Officer in charge of finance and strategy at BPCE between November 2018 and August 2020, before heading Natixis, acquired 100% in the summer of 2021. He had been appointed to this position to redress the bank which brought together various activities such as market operations, asset management and insurance, and which had been plagued by turbulence since the beginning of the year.

Under this last mandate, a transformation plan has been initiated, providing for example a separation from the problem fund H2O; a saving of 350 million euros by the end of 2024 is also targeted.

Emmanuel Macron’s classmate at the ENA arrives at the head of a healthy company, which, after a record year 2021, posted in the first half of the year an income of 13.1 billion euros (+ 5 .5% over one year), for a net profit of 2.1 billion euros (+ 13.9%).

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The World with AFP