Natixis Replaces Risk Head Debray to Cap Tumultuous Year
- CEO Riahi has contended with derivative losses and outflows
- Bank hires new risk head from JPMorgan in overhaul of controls
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Natixis SA replaced its head of risk with an outside hire and moved to strengthen controls across the firm as Chief Executive Officer Francois Riahi seeks to draw a line under a tumultuous year.
The Paris-based bank appointed JPMorgan Chase & Co.’s Olivier Vigneron to the role of chief risk officer on Thursday, replacing Pierre Debray, who faced internal scrutiny for a personal stock sale. Natixis also named a new head of risk for the U.S. and said it will strengthen governance at its asset management arm, where its H2O affiliate was rocked by concerns about thinly-traded holdings.