Global multi-asset brokerage Newedge has promoted Nicolas Breteau to the position of CEO, replacing outgoing head Patrice Blanc.
Breteau, who was previously global head of sales and front office at the firm, also worked at Fimat International Bank, the brokerage arm of French investment bank Société Générale, as financial controller for the European zone and as CEO for its UK office.
After Fimat was merged with Calyon Financial to form Newedge in 2008, Breteau was named zone managing director for Europe and the Middle-East. Breteau assumed the position of CEO on 7 July, replacing Blanc who left the firm for personal reasons.
“Over the last years we successfully built Newedge into a listed derivative leader, putting us in a good position to capitalise on the new derivative environment created by financial reform,” said Breteau. “The board, the management team, and I are fully committed to continue to deliver on the business opportunities ahead.”
Furthermore, Duncan Goldie-Morrison has been appointed as a full-time independent chairman of the board at Newedge. Goldie-Morrison has resigned as a senior adviser for Credit Agricole CEO Patrick Valroff as part of the change, which Newedge claims reflects its efforts to strengthen its governance structure. Jacques Ripoll, head of global investment management and services, Société Générale Group and JérÃ´me Grivet, deputy CEO of Crédit Agricole have also been appointed as vice chairmen of the board.
“The new governance structure will further support the needs of both the company and the shareholders, and help to strengthen a business model and strategy that proved correct,” commented Goldie-Morrison.