Calyon
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| Type | Subsidiary |
|---|---|
| Founded | May 1, 2004 |
| Headquarters |  Paris, France |
| Key people | Georges Pauget (Chairman) Patrick Valroff (CEO) Jérôme Grivet, Deputy CEO Alain Massiera, Deputy CEO |
| Industry | Finance and Insurance |
| Products | Financial Services |
| Employees | 13 000 |
| Parent | Crédit Agricole |
| Website | www.calyon.com |
Calyon Crédit Agricole CIB is Crédit Agricole's corporate and investment banking entity. With a staff of 13,000 employees in 58 countries,[1] Calyon is active in a broad range of capital markets, investment banking and financing activities.
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[edit] 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).
[edit] Operations
Its activities are grouped into two major divisions - the Capital Markets & Investment Banking Division and the Financing Division.
[edit] Exceptional trading losses
In September 2007, a Calyon New York trader caused a loss of $350m (€250m). He had taken unusual positions beyond authorization and delegation. He was fired, as well as five other salaried employees from New York branch[2]
Credit Agricole lost €857m ($1.3bn, £657m) in the fourth quarter of 2007, primarily as a result of the €3.3bn charge on losses related to the credit crisis. [3][4]
[edit] Key Strengths
Calyon is a leading player in the Interest Rate Derivatives arena. Its global footprint combined with a world-class derivatives platform have created a Structured Euro Medium Term Notes (EMTN) business that consistently ranks in the market Top 10.
