Villeroy de Galhau to head the Banque de France

French president François Hollande has proposed to appoint former chief operating officer of BNP Paribas François Villeroy de Galhau as governor of the Banque de France.

He would succeed to Christian Noyer in November 2015. The proposal has been submitted to the French parliament’s approval.

Benoît Coeuré, executive board member of the European Central Bank (ECB), is also listed as a potential candidate to the succession of Noyer.

Villeroy de Galhau is currently conducting a mission on the financing of investment in France and in Europe for the French government.

He has worked for BNP Paribas group between 2003 and 2015. He held several roles such as CEO of Cetelem, the consumer credit subsidiary of BNP Paribas, CEO of BNP Paribas Personal Finance and head of French Retail Banking before being appointed chief operating officer in 2011.

Villeroy de Galhau began his career as senior auditor at the French Treasury (1984-1988) then served as European advisor to Pierre Bérégovoy (1990-1993).

Before being appointed financial advisor in Brussels, where he took part in the creation of the euro, Villeroy de Galhau held positions at the Treasury Directorate (1993-96).

He also worked as head of Cabinet of French finance ministries Dominique Strauss-Kahn (1997-1999) and Christian Sautter (1999-2000). He then held the post of director-general of Taxes (2000-2003).

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