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Daniel BoutonHead of the bank "Societe Generale"
Date of Birth: 10.04.1950
Country:  France |
Content:
- Daniel Bouton: A Pioneer in French Banking
- Public Service in the Finance Ministry
- Transition to Societe Generale
- Leadership and Innovation
- Regulatory Roles and Controversies
- The Jerome Kerviel Crisis
- Post-Crisis Recovery
- Honors and Legacy
Daniel Bouton: A Pioneer in French Banking
Early Life and EducationDaniel Bouton was born on April 10, 1950, in Paris, France. After completing high school with a baccalaureate degree in 1967, he pursued higher education at the prestigious École Nationale d'Administration (ENA) and the Institut d'Études Politiques de Paris.
Public Service in the Finance Ministry
In 1973, Bouton joined the French Ministry of Finance as the youngest inspector within the General Inspectorate of Finances. He served in this role until 1977 (or 1978 according to some sources) before transitioning to the Finance Department as a delegate. From 1986 to 1988, Bouton held the position of Chief of Staff to Alain Juppe, the Minister-Delegate for the Budget in Jacques Chirac's government.
Transition to Societe Generale
In March 1991, Bouton left the public sector to join the banking industry at Societe Generale (SocGen). He quickly rose through the ranks, becoming Executive Director in 1993 and Chairman of the Board of Directors four years later. Bouton also served as a board member for several prominent companies, including Arcelor, Schneider Electric SA, Total, and Veolia Environnement.
Leadership and Innovation
In 1998, Bouton became Chairman of the Development Group within the Movement des entreprises de France (MEDEF) business association. In 1999, he attempted to orchestrate the acquisition of Paribas Bank, but his plans were thwarted by a hostile takeover attempt from BNP, which ultimately merged with Paribas. However, Societe Generale remained independent.
Regulatory Roles and Controversies
In June 2002, Bouton became Chairman of the Coordinated Credit Ratings Committee within the Institute of International Finance (IIF). In the same year, he faced allegations of money laundering in the Sentier II case involving illicit financial flows between France and Israel. The trial for this case commenced in 2008.
The Jerome Kerviel Crisis
In January 2008, Societe Generale suffered massive losses due to fraudulent trading activities by its Paris-based trader, Jerome Kerviel. Bouton offered his resignation to the SocGen board, but it was declined, and he voluntarily waived his salary for six months.
Post-Crisis Recovery
Despite the challenges faced during the Kerviel crisis, Bouton remained at the helm of Societe Generale and guided the bank's recovery. Under his leadership, the bank returned to profitability and strengthened its financial position.
Honors and Legacy
Daniel Bouton is a respected figure in the French banking industry. He has been awarded the French Legion of Honor and the Order of Merit. Bouton's contributions to the banking sector and his role in navigating Societe Generale through challenging times have left a lasting legacy.
