* Natixis says Q4 net income up 57 pct
* Natixis says appoints Jean Raby as head of asset
(Adds comments, details)
PARIS Feb 9 French's Natixis posted a
57 percent rise in fourth-quarter net profit on Thursday,
boosted by a surge in trading activity at its investment banking
The bank followed U.S. and French peers in reporting
stronger revenue in fixed income and equity trading, driven by
Donald Trump's surprise U.S. election victory in November and
the U.S. Federal Reserve's decision to raise a key interest rate
target in mid-December.
Natixis, a subsidiary of state-backed retail banking group
BPCE, is in the late stages of a restructuring plan aimed at
cutting costs and has been focusing on so-called asset-light
businesses, such as asset management and insurance, in an effort
to adapt to tougher European capital requirements.
The bank also announced the appointment of former Goldman
Sachs banker Jean Raby as head of asset management, private
banking and private equity business lines, with a place on the
senior management committee.
France's fourth-biggest listed bank said it would pay a cash
dividend of 0.35 euros per share for 2016, at a stable level
compared with 2015.
Fourth-quarter net income rose to 496 million euros ($529
million) on net revenue up 12 percent to 2.52 billion euros,
beating the average forecast of 2.3 billion euros in a Reuters
poll of analysts.
Net revenue in its global markets division rose 28 percent
in the quarter, boosted by fixed-income trading, in particular
on the Americas and Asian platforms.
($1 = 0.9379 euros)
(Reporting by Maya Nikolaeva and Julien Ponthus; Editing by
Michel Rose and David Goodman)