Calyon is reorganizing its securitization team and shifting the focus of its business from London to Paris. Emmanuel Campagne-Simon, based in Paris, has taken over as European head of securitization from Peter Kappel, who is based in London, and will report to Jérôme Le Jamtel, global head of securitization. Kappel is taking on a new position at the firm, according to Virginie Ourceyre, spokeswoman. She declined to reveal his new role.
In addition, Calyon has hired a new head of U.K. securitization. Thierry Sebton, a former head of continental European securitization at Royal Bank of Scotland in London, joins as an executive director and reports to Campagne-Simon.
Sebton and Kappel referred questions to the spokeswoman, while Campagne-Simon and Le Jamtel did not return calls. Further details on the reorganization could not be determined by press time.
Industry professionals away from Calyon view the reorganization as part of a long drawn out shake-out after the merger between Crédit Lyonnais and Crédit Agricole, with the London-based Crédit Agricole securitization team, headed by Kappel, getting pushed out in favor of the Paris-based Crédit Lyonnais team.
Prior to joining Calyon, Sebton, who has worked in securitization for 15 years, spent a year running a company advising investors on securitization. Before that he spent two years at RBS.