A Credit Agricole logo is seen outside a bank office in Vertou near Nantes, France, February 11, 2019. REUTERS/Stephane Mahe

PARIS (Reuters) – French bank Credit Agricole SA replaced three senior bankers at its investment and markets arms, shortly before reporting its fourth quarter earnings.

Credit Agricole appointed Didier Gaffinel as new head of global coverage and investment banking, Laurent Chenain as new head of global international trade and transaction banking and Pierre Gay as its new head of global capital markets.

The bank did not say who these three bankers replaced, nor whether those replaced still worked for the bank.

The two other large listed French banks – Societe Generale and BNP Paribas – said last week as they reported fourth quarter earnings that the late 2018 market downturn severely hit their market operations.

Societe Generale said last week that it had let go of Frank Drouet, its head market activities, partly due to the poor performance of that business.

Reporting by Inti Landauro and Matthieu Protard; Editing by Sudip Kar-Gupta


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