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