Jacques Prost will take over as chief executive officer (CEO) of Indosuez Wealth Management, the wealth management arm of Crédit Agricole, on 18 June following the resignation of Paul de Leusse.
As deputy CEO of Crédit Agricole Corporate and Investment Bank, Prost has been supervising the bank’s global markets and financing activities since 2013. He is also a member of the Crédit Agricole management committee.
He joined the French group in 2000 as head of structured finance for corporate and investment banking in Italy, going on to become the head of real estate and hotels division in Paris. He was appointed global head of structured finance in 2011.
In a statement on Monday, the bank said that Prost’s experience in corporate and investment banking will be an asset to developing the EUR 118 billion ($137.8 billion) wealth manager as it continues to position itself as a universal bank.
De Leusse, meanwhile, has exited Indosuez after nearly two years at the helm. He has been appointed group deputy CEO for mobile financial services at telecommunications operator Orange.
The executive joined Crédit Agricole as head of group strategy in 2009, working in various senior positions until he was named CEO of Indosuez in September 2016.
The French private bank expanded its presence in Asia under De Leusse’s leadership, completing the acquisition of the private banking units of Crédit Industriel et Commercial in December last year to bolster its AUM across Singapore and Hong Kong to approximately EUR 12 billion ($14 billion).