As we approach the end of the first quarter, France's two biggest banks are both busy cutting costs and heads in their investment banking arms. France's third biggest bank, however, looks in far better health, and is hiring. Credit Agricole's corporate and investment bank (CIB) just made two major recruits for its fixed income sales and trading business in London.
Oliver Taylor-Higginson joined Credit Agricole CIB as a managing director and head of UK real money sales. Claus Müller joined as a director in debt optimisation and distribution project finance.
Taylor-Higginson was last seen at HSBC Global Banking and Markets, where he worked for 19 years and was most recently an MD in fixed income sales to institutional asset managers. He left HSBC in June 2018.
Müller was last employed by Mizuho, where he was head of leveraged finance and project finance sales for EMEA. He left Mizuho in December 2018.
While SocGen and BNP Paribas are cutting costs, Credit Agricole said recently that its corporate and investment bank is ahead of schedule in meeting its objectives, and that despite a 29% fall in markets revenues it will not be restructuring.
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