PARIS, May 6 (Reuters) - French bank Societe Generale appointed Sylvain Cartier as its new head of fixed income and currencies on Monday as part of a restructuring in its corporate and investment banking arm.
“Sylvain will work on the refocusing of the flow activities (cash and flow derivatives) and to further develop investment and financing solutions to make rates, credit and currencies activities more profitable,” Societe Generale said.
Cartier was previously head of global markets for the Americas. He will be replaced by Hatem Mustapha, another SocGen banker.
Cartier will report to newly appointed head of global markets, Jean-Francois Gregoire.
Societe Generale last month launched a plan to boost profitability after last year’s poor performance. The restructuring includes closing down businesses, cutting 1,600 jobs, disposing assets and freeing up to 8 billion euros in capital.
The appointments will be effective in the third quarter. (Reporting by Inti Landauro; Editing by Luke Baker)