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Calyon Preps New Credit Management

02 Nov 2007

Calyon is expected to announce next week a reorganization that will name replacements for senior credit officials who departed in the wake of proprietary trading losses last month (TS, 9/21).

Calyon is expected to announce next week a reorganization that will name replacements for senior credit officials who departed in the wake of proprietary trading losses last month (TS, 9/21). The replacements could not be determined by press time, but officials familiar with the plan said most of the key people will have been with the French firm for at least five years under Loic Fery, former global head of credit markets and collateralized debt obligations. This will enable a smooth and stable transition, an official said.
02 Nov 2007