Crédit Agricole has promoted Olivier Toussaint to chief executive of Banque de Gestion Privée Indosuez, a private banking subsidiary of the French bank.

Toussaint replaces Hervé Catala, who has held the position since 2007 and has now been made chairman of the management board of Crédit Agricole’s Swiss operations.

Both Toussaint and Catala began their careers at Banque Indosuez in the 1980s, with the bank subsequently being acquired by Crédit Agricole in 1996. 

Until now, Toussaint has mainly held positions within corporate banking and was latterly CEO of Crédit Agricole Leasing & Factoring. He was head of corporate banking between 2000 and 2005.

Catala went into private banking in 1999, as CEO of Crédit Foncier de Monaco, the principality’s largest bank, before he moved to his most recent position where he specialised in private banking in France. Before that, he had been head of regional activities in France between1994 and 1999.

Earlier this week, Serge Janowski, the former CEO of wealth management for Hong Kong and North Asia at BNP Paribas, was announced as CEO of the Hong Kong branch of Crédit Agricole Suisse.

Crédit Agricole Suisse was granted a full banking licence by the Hong Kong Monetary Authority in March. It was followed by the opening of a wealth management booking centre in Hong Kong, in addition to the centres in Singapore and Geneva.