Shake-up at SG follows rogue trader losses

Top management at Société Générale has been reshuffled in the wake of the rogue trades which cost the bank €5 billion in losses this month.

Christophe Mianné, who was promoted to head of global markets last month, has now returned to head the global equities and derivatives division. His former co-head of global equities and derivatives, Luc Francois, took sole charge of the division after Mianné's promotion, but has now left the bank.

Olivier Khayat, formerly head of capital raising and financing, has moved to succeed Marc Breillout as head of fixed income, currencies and commodities - Breillout is also understood to have left the bank, but SG had not confirmed this at the time of writing.

Khayat's co-head of capital raising and financing, Jean-Luc Parer, previously global head of debt capital markets, will now take sole charge of the division.

See also:Questions remain over SG rogue trader
€4.9 billion fraud at Société Générale
SG CIB promotes Mianné