Credit Agricole Corporate and Investment Bank

Credit Agricole Corporate And Investment Bank

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Credit Agricole Corporate and Investment Bank

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Description:
Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB, formerly Calyon) is Crédit Agricole's corporate and investment banking entity. With a staff of 13,000 employees in 58 countries, Crédit Agricole CIB is active in a broad range of capital markets, investment banking and financing activities. Clients are primarily corporates, governments, and banks, with a small footprint in the investor segment.

History

Calyon was created in May 2004 by the transfer of assets from Crédit Lyonnais' Corporate and Investment Banking division to Crédit Agricole Indosuez (CAI), which had been created in 1996 with the purchase of Banque Indosuez by Crédit Agricole.

As of 6 February 2010, Calyon changed its name to Credit Agricole Corporate and Investment Bank (Crédit Agricole CIB).

Operations

Its activities are grouped into two major divisions: the Capital Markets & Investment Banking Division and the Financing Division.

Trading losses

In September 2007, a Crédit Agricole CIB New York trader lost the firm 250M (US$320M). He had taken unusual positions beyond authorization and delegation. He was fired, as well as five other salaried employees from the firm's New York branch.

Credit Agricole lost €857m ($1.1bn, £657m) in the fourth quarter of 2007, primarily as a result of the €3.3bn charge on losses attributed to the credit...
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