Societe Generale loses its CFO

Posted on Nov 3, 2021, 9:04 p.m.Updated Nov 3, 2021, 9:26 PM

He is an important member of Societe Generale’s management who is about to leave the bank. According to our information, the group is to announce Thursday morning, on the occasion of the publication of the third quarter results, the next departure of William Kadouch-Chassaing, the current deputy general manager of the group, in charge of finance.

He will resign from his post to then join Eurazeo, where he should join the management board, and take care of the fund’s finances and strategy. From April 2022, he will officially replace Philippe Audouin, who will retire, during the Eurazeo general meeting. A historical pillar of the investment company, this former CFO at France Telecom joined Eurazeo 19 years ago and supported all of its changes. William Kadouch-Chassaing will be responsible for supporting his major shift towards management on behalf of third parties. At Societe Generale, the bank’s financial management would be entrusted to Claire Dumas, the group’s deputy financial director since 2017.

52-year-old William Kadouch-Chassaing joined Societe Generale in the fall of 2007 as a consultant bank in the corporate and investment banking (BFI) division. Appointed Deputy Chief Financial Officer and Chief Strategy Officer in April 2013, he then joined the Societe Generale Management Committee, before becoming five years plus the Group Chief Financial Officer.

In the summer of 2020, after a very complicated first semester for the La Défense bank, he was part of the new generation of managers promoted by the boss Frédéric Oudéa, alongside Sébastien Proto, appointed deputy general manager in charge of retail banking, and Slawomir Krupa, propelled to the head of the CIB.

Succession of departures

The one who began his career in education and the public service, before becoming an economist at JP Morgan in 1996 has rather an atypical profile for the sector. Literary by training, music lover, associate in economics and social sciences, he has the particularity of not having gone through the Ecole Polytechnique like many of the senior executives of his company.

His departure follows that of Zakaria Moursli, the IT director in charge of the France Societe Generale, Crédit du Nord and Private Banking retail banking networks, who will join La Banque Postale by the end of the year. Last spring, it was the boss of Crédit du Nord, Françoise Mercadal-Delasalles, who left her post, in the midst of the merger of the networks with Société Générale.

These departures come at a time when the La Défense bank has embarked on vast transformation projects. In addition to the merger between the retail banking networks, which will cause 3,700 job cuts, Societe Generale is on the offensive on the ING France takeover file, via its subsidiary Boursorama, and has just formalized the opening of discussions with LeasePlan to accelerate in car leasing.

When questioned, neither Société Générale nor Eurazeo wished to comment on the information.

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