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What is going on at Dexia? 46 year old CEO Stefaan Decraene to depart

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Stefaan Decraene, the CEO of Dexia Bank Belgium and member of the Executive Committee of Dexia Group, will leave the company. The 46-year-old Decraene who ran Dexia Bank Belgium for over five years will leave the group for an international job in another bank. There are strong indications that he is switching to the French financial giant BNP Paribas, the parent of Dexia's rival Fortis. The departure of Decraene, number two at the top of Dexia, is a new blow to the embattled group.

Jos Clijsters by the board of directors was appointed new CEO of Dexia Bank Belgium. The press release states that the long experience of Clijsters in the industry and his knowledge of Dexia guarantee the continuity and development of the Bank for serving its clients.

The 61-year-old Clijsters started in January 2011 at Dexia as a consultant, after a track record of 30 years at Fortis. Previously, the Leuven born was a member of the executive and standing committees at Fortis. As CEO of Fortis Retail Banking hevdeveloped the international business and made acquisitions in Poland, Turkey, Ireland and Germany.

The new function of Decraene at BNP Paribas is not known, but apparently he is situated at the group level and not at the Belgian level. It can not be ruled out that he is responsible for all retail activities of the French group, succeeding Jean-Laurent Bonnafé.

Operationally the company is doing well, but the legacy of the past and especially the large portfolio of government securities in the PIGS countries, and the liquidity situation oare concerns.

Source: http://www.tijd.be/nieuws/ondernemingen_financien/Dexia_Bank_ziet_CEO_vertrekken.9101049-3095.art?ckc=1

 

THIS IS A LONG SERIES OF COMMENTS AND BLOGS ABOUT DEXIA & ITS DEVELOPING STORY

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