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BRD Societe Generale picks new chief executive
vThe board of BRD Societe Generale held an ordinary meeting today and picked Guy Poupet as the new chief executive of the bank and chairman of the board. Poupet will begin his four-year term as of January 1, 2010, after Patrick Gelin left his post earlier this year. Guy Poupet will make his first statements as chief executive of BRD today in a press conference. Aged 57, Guy Poupet holds a degree in Public Law from Paris Institute of Political Studies and has been with Societe Generale group since 1975, when he began his career as inspector. Since 1983 he held various top management positions at Societe Generale’s subsidiaries in Argentina, Senegal, Czech and Egypt. BRD SocGen is the second largest bank in Romania by network and assets and serves around 2.6 million customers. BRD group employs 9,200 persons and has total assets of 49.6billion lei
Romanian BRD Has No Layoff Plans
Patrick Gelin, head of the Romanian lender BRD Societe-Generale (BRD.RO), said the bank would not lay off employees on the backdrop of the current economic conditions. Gelin added that the bank's policy would have to be adapted to the 2010 conditions, adding that BRD plans no radical management change in the following years. The bank's head said that BRD currently employs 8,500 people, or 9,300 if all units are included. BRD shareholders elected Guy Poupet as general manager and Chairman of the bank's Board of Directors as of January 1, 2010, for a four-year term. BRD's current general manager and Chairman of the Board Patrick Gelin has decided to quit. In the first nine months, BRD Societe-Generale reported a 19% fall in its nine-month net profit to 660.2 million lei (EUR1=RON4.2496) on lower demand and growing non-performing loans.According to the latest data, Societe Generale owns a 59.28% stake in BRD, while the five Romanian regional investment funds, or SIFs, own around 5% each.