The SRO post has been especially created for CouvFgnes and sources say that the move reflects the strategic importance Calyon puts on Asia. CouvFgnes becomes a member of the Calyon management committee with the promotion.
The well-regarded Marc Poirier, who surprised markets last November by leaving Societe Generale (SG) China for Calyon Securities Japan, will become SCO after just seven months with the firm. He originally arrived at Calyon as CEO of Calyon Securities Japan. In his new role he will supervise all the activities of the group in the country. Calyon is the international banking and capital markets arm of Credit Agricole, one of FranceÆs largest banks.
Poirier attracted widespread attention when he headed up a consortium that led the charge to acquire Guangdong Development Bank in 2006. The Chinese lender was eventually bought by a consortium led by Citi. Poirier had been at SG for almost two decades before unexpectedly joining Calyon and exchanging Beijing for Tokyo.
Market sources says that the reshuffle show that Calyon is increasing its emphasis on Asia. Both CouvFgnes and Poirier are regarded as heavyweights with many decades of experience in Asia. Poirier speaks fluent Japanese, is married to a Japanese national, and was active in Tokyo as a bond trader in the early part of his career. For his part, CouvFgnes has spent time in Korea, Singapore, Japan and Hong Kong.