Indosuez Wealth Management, the global brand of Crédit Agricole, appointed a new chief executive officer. He's already been with the company for almost two decades.
Paris-based bank Indosuez Wealth Management appointed a seasoned banker as its new chief executive officer. With effect from June 18, 2018, Jacques Prost will take on his new responsibilities, according to a statement released on Monday. He replaces Paul de Leusse who has resigned.
Prost joined Crédit Agricole in 2000 as head of structured finance for corporate and investment banking in Italy. In 2008, he became head of the real estate and hotels division in Paris. In November 2011, he was appointed global head of structured finance.
Headcount Increase
Since 2013, Prost supervised global markets and financing activities as deputy chief executive officer of Crédit Agricole corporate and investment bank. He is also a member of Crédit Agricole’s management committee.
Indosuez has recently bulked up its operations in Asia. In December 2017, the company acquired the private banking operations of Crédit Industriel et Commercial in Singapore and Hong Kong. The headcount increased to more than 400 from 250.
Ambitious Asian Targets
Pierre Masclet, chief executive for Asia at Indosuez, is targeting an increase of assets in Asia of as much as 10 percent in 2018, while keeping the cost-income ratio below 80 percent. Assets under management at Indosuez in Asia stood at approximately 12 billion euros following the deal with Crédit Industriel et Commercial.
