SocGen board picks investment banking boss Krupa as new CEO

PARIS (Reuters) -French bank Societe Generale said on Friday its board had picked Slawomir Krupa, who currently runs its investment banking business, as its new group chief executive.

Krupa's appointment will be proposed at the next shareholder meeting in May 2023, the bank said in a statement.

The board's choice was unanimous, it said, adding the European Central Bank had been kept informed throughout the selection process.

"He has perfect knowledge of our bank, as well as the challenges that await him; he has demonstrated his ability to lead Societe Generale, a major European bank," the bank's chairman, Lorenzo Bini Smaghi, was cited as saying in the statement.

"His first mission will be to finalise the vast transformations in progress, such as the merger of the French networks, the acquisition of LeasePlan by ALD, the expansion of Boursorama, and the continued development of the corporate and investment bank, recentred on its core businesses."

(Reporting by Sudip Kar-Gupta and Silvia Aloisi,Editing by Tassilo Hummel)