Former Newedge CEO to leave Soc Gen

Escoffier led the integration of Newedge with Societe Generale's trading business.

David Escoffier, the former chief executive of futures brokerage Newedge and deputy head of global markets at Societe Generale, will step down.

Escoffier led Newedge during its integration with the French bank, which then became Societe Generale Prime Services.  

According to a statement from the bank, his departure is part of a larger reshuffle within the division following the appointment of Frank Drouet as head of global markets in April.

Escoffier will be replaced by Marc El Asmar, who takes up the role of head of sales for global markets. The role of deputy head of global markets is to be retired.

Escoffier led Societe Generale’s global markets sales team following a wider restructuring in March 2015 within the investment banking unit. During his time at the bank, he also spearheaded its equity derivatives business in London.

In addition Yann Garnier has also joined the bank as head of global markets for the Asia-Pacific region, replacing Drouet.