Nicolas Théry leaves the presidency of Crédit Mutuel-Alliance Federale

An unexpected departure for a banker not quite like the others. Nicolas Théry, president of Crédit Mutuel-Alliance Federale since 2014, announced Tuesday February 27 that he would leave his position on April 5 to make way for the current general manager, Daniel Baal.

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However, there is no question of breaking with the ninth European banking group: it has become “simple employee” according to his expression, Mr. Théry, 58 years old, will advise his successor and will preside over the founding of the group and the founding of Crédit Mutuel pour la lecture.

A new role for this former finance inspector, who was advisor to Dominique Strauss-Kahn at the Ministry of the Economy then chief of staff to Florence Parly at that of the budget, confederal secretary of the CFDT, chief of staff to Pascal Lamy at the European Commission before joining Crédit Mutuel in 2009.

President of Crédit Mutuel-Alliance Federale since 2014 and of the Confédération nationale du Crédit Mutuel since 2016, Mr. Théry explains to World having matured the idea of ​​a handover for several months and made it official with “the feeling of duty accomplished”.

“Social” image

In fact, a quick look back over the last fifteen months is enough to draw up a more than satisfactory assessment. Crédit Mutuel-Alliance Fédérale published an annual profit of 4.1 billion euros at the beginning of February, an increase of 18% over one year and which places the mutual group on the third step of the podium of the most profitable French banks, behind BNP Paribas and Crédit Agricole. As for the group’s balance sheet, at more than 900 billion euros, it has increased by 68% in ten years.

The new strategic plan presented in December 2023 targets 5 billion euros in profits by 2027, thanks among other things to the development of insurance and asset management activities. Enough to fuel the “societal dividend”, these 15% of annual profit allocated since 2023 to financing ecological transformation and solidarity actions, both social and territorial.

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A first among large French companies, which reinforced the “social” image carefully cultivated by the banking group, the first player in the sector in 2021 to opt for the status of mission-driven company, the first to waive the health questionnaire in real estate loan applications and to eliminate fees for inheritances of less than 10,000 euros. Without forgetting the recruitment of Laurent Berger, the former general secretary of the CFDT, responsible for creating a think tank on ecological issues.

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