Change in Natixis’ governance

Paris, France, August 3, 2020

Following its meeting today, the board of directors of Natixis announces the departure of François Riahi who leaves his functions of Chief Executive Officer of Natixis and member of the management board of Groupe BPCE due to strategic differences regarding the options of Natixis’ future plan. 

In order to prepare the new strategic plan due to be presented next summer, and with a view to initiating this new stage in the life of the company, the board of directors decided to appoint Nicolas Namias as Chief Executive Officer with effect from August 4th, 2020.

Laurent Mignon, Chairman of Natixis’ board of directors, said: “I would like to commend François Riahi and thank him most sincerely for his commitment and loyalty in serving Groupe BPCE for more than 10 years. He showed discipline, efficiency and great intelligence in accompanying all the main stages in the group’s life since it was founded in 2009, and notably contributed to our development in Asia. Serving as Chief Executive Officer of Natixis for the last two years in particularly difficult conditions, he executed a number of major projects, such as the transfer of the Specialized Financial Services business to BPCE, the creation of a European leader in insurance asset management with La Banque Postale, the ongoing sale of 29.5% of Natixis’ holding in Coface and the development of a single non-life insurance platform for the group. Under his leadership, Natixis’ business lines conducted significant transformations, among which the clear choice in favor of energy transition and its application within our Corporate & Investment Banking business. On behalf of the board of directors and the group’s management board, I wish François every success for the future”.

“On behalf of the board of directors and the group’s management board, I offer my warm congratulations to Nicolas Namias for his appointment. Nicolas possesses fine-grained and in-depth knowledge of Natixis where he spent four years. First, as Head of Strategy, he was in charge of preparing the New Dimension plan and leading several growth transactions in the Asset Management, M&A, Insurance and Payments businesses. Then, as Chief Financial Officer, he convinced investors of the soundness and strength of Natixis’ model. During these last two years, as Head of Group Finance and Strategy, he has also demonstrated the qualities of anticipation, decision-making and execution that are vital in the current climate. Working with the senior management committee and all of Natixis’ teams, he will be capable of driving the growth of the bank for the benefit of its clients, employees and shareholders”.

For his part, François Riahi wishes every success to Groupe BPCE and particularly to Natixis, a high-performing, unique and useful financial company, and to the talented women and men comprising its teams.

Nicolas Namias has been a member of the management board of Groupe BPCE, Deputy Chief Executive Officer and Chief Financial Officer since November 1st, 2018.

He began his career in 2004 in the Treasury within France’s Ministry for the Economy and Finance. In 2008, he joined Groupe BPCE in the Financial Department, then became the Group’s Head of Steering for Commercial Banking and Insurance. In 2012, he was appointed technical advisor to the Prime Minister for financing the economy and companies, and for international economic affairs. On rejoining Groupe BPCE in 2014, he became Head of Strategy for Natixis, member of the executive committee. He notably coordinated all the M&A operations and the definition of the 2017-2020 strategic plan. In 2017, he was appointed Chief Financial Officer of Natixis and member of the senior management committee.

Nicolas Namias has also served as Chairman of the board of directors of Crédit Foncier since August 2019. Nicolas Namias is a graduate of France’s Ecole Nationale d’Administration, Stanford Graduate School of Business (executive program), ESSEC Business School and Institut d’Etudes Politiques de Paris.

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