Key move. Francois Bloch appointed new CEO of BRD, replacing Philippe Lhotte

The board of directors at French BRD Groupe Societe Generale has decided to appoint Francois Bloch as the new CEO. He will be replacing Philippe Lhotte, who will remain member of BRD’s board and will take other roles within the financial group.

Bloch will take his new role as of November 1, pending the approval of the National Bank of Romania. He has previously worked as first deputy CEO of Russia-based Rosbank, which is controlled by Societe Generale Group.

Bloch started his career in 1990 at Fimat and has held various positions in France, Germany and in the USA. In 2008, he was appointed head of strategy and integration at Newedge, the global brokerage unit jointly owned by Societe Generale and Credit Agricole. In 2009, he joined Societe Generale Risk Division as Global Head of Credit Risk – Countries and Financial Institutions. Since June 2012 he has been First Vice-President of Rosbank.

He became deputy CEO of the Russian lender in January 30.

“I would like to express my gratitude on behalf of the Board to Philippe Lhotte for his dedication and his important contribution to BRD recovery and development. Philippe Lhotte has successfully achieved to transform and to adapt BRD in order to strengthen its position on Romanian market in a challenging environment. To continue the balanced and sustainable development which has generated good financial and commercial results we communicate today, wide-ranging experience in banking of François Bloch – and in particular his in-depth international experience – will be key support and drive,” said Gianluca Soma, chairman of BRD’s board of directors.

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Lhotte became the head of BRD in the autumn of 2012.

Ovidiu Posirca