Natixis dumps chief exec after EUR2.6bn losses

Dominique Ferrero, the chief executive of French corporate and investment bank Natixis, has lost his job as part of the bank's restructuring plans. The decision was taken by Francois Perol, who is both chairman of Caisse Nationale des Caisses d'Epargne and chief executive of Banque Federale des Banques Populaires.

The two banks each own a 35.62% share of Natixis and are in the process of merging. Ferrero's mandate, which is due to expire today, will not be renewed, Natixis said. Laurent Mignon

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