The Caisse d'Epargne, must meet Sunday afternoon's supervisory board, which should decide on the maintenance of direction.
The meeting organized in the emergency following the announcement Friday by the Caisses d'Epargne a loss of 600 million euros in market operations. This is in financial crisis and even though the case Kerviel which cost 4.9 billion at Societe Generale goes to rebound.
The Executive Board of Caisse d'Epargne Group is composed of five members: Charles Milhaud addition, it has Mérindol Nicolas, the Director General, Julien Carmona, in charge of finance and risk, Guy Cotret (human resources, information technology) and Alain Lacroix (development ).
"There will be a vote of confidence on whether the Executive", it was said a source close to the bank, adding that this council must meet at 15H00.
He himself said Sunday that he felt "responsible" for the loss of 600 million euros by his group and that the supervisory board which meets in the afternoon, "consider the consequences" to draw in this case.
"Yes, I feel responsible. Believe me this incident is serious and touches me deeply, "says Milhaud, in an interview with the Journal du Dimanche. Asked about a possible resignation, the chairman of the board of the Caisse Nationale des Caisses d'Epargne (CNCC) was merely reply that the supervisory board of the CNCC, which meets Sunday at 15h, "consider all the consequences to be drawn from this case". ( Finance Information City )
In a brief release, the Caisses d'Epargne Friday morning indicated that the loss linked to a "major incident market", was concerned last week its derivatives business in a market very volatile. The ACC had indeed registered the same week the biggest loss in its history (-22.2%).
A spokesman for Cash said the loss was attributable to a "small management team to own five to six people, all of which were sanctioned." This team would have taken "excessive risk positions and volume, beyond the limits permitted". A deputy Julien Carmona, a member of the Board of Finance, was laid off, he added.
The funds were keen to reassure the authorities and their clients indicating that the level of their own funds (over 20 billion euros) to absorb the shock.
"This loss does not affect the financial soundness of the group and has no effect on customers," assured the group, which said that measures had been implemented to settle this and put an end to this activity.
Recall that in March 2008, raids took place in the local groups Caisse d'Epargne and Banque Populaire. The two mutual banks had confirmed information site Mediapart reported that an investigation into an "agreement rate mortgage."
According to a source close to the record, computers leaders of the Caisse d'Epargne have been seized, including Charles Milhaud (chairman), Nicolas Mérindol (CEO) and Guy Cotret (Member of the Executive Board in charge of human resources, IT and banking operations).
At the headquarters of the federal group Banque Populaire, investigators, occurred last Tuesday, reportedly seized documents belonging to some leaders of the group. These searches were conducted by the Directorate General for Competition, Consumption and the Repression of Fraud (DGCCRF), supported the Financial Guard.
According to the information site Mediapart, "DGCCRF seek to gather evidence that several banking groups, including the Caisses d'Epargne, Credit Agricole or the Banques Populaires, or their regional structures, have agreed on the levels of credit rate (mainly in the case of mortgage). "
"These practices have been observed in some regions, particularly in western France and in central and Massif Central. Some banks or branches will be heard so that a customer who obtained credit in the bank can not solicit competing banks in the hope of obtaining a renegotiation of its loan on terms more favorable, "adds Mediapart.
The savings banks have denied in a statement the information that "leaders of several computers were seized in connection with this investigation. "Only the hard drive of an employee of the CNCC has been an arrest," the group, adding that officers and employees of the CNCC and a Savings have been heard by the investigators. "The National Savings Bank will cooperate in the investigation and denies already participating in an agreement on the renegotiation of mortgages.
Thierry Gaubert, a former collaborator of Nicolas Sarkozy, has also recently been examined. Note that currently holds the post of chief of staff Charles Milhaud, Chairman of the Savings Bank, as some call Balkans.
The facts, or rather the mésactions who accused him: abuse of social goods and fraud in a real case for the collection and use of funds from 1% housing in the Hauts-de-Seine, in the 80s and 90s .
As Charles Milhaud himself note that was recently elected to Marseille on the list led by Guy Teissier (UMP) in the 5th sector (9 and 10th arrondissement). The list, on which Mr. Milhaud, 65, appeared in 7th position, obtained 58.68% of the votes.
CEO of the Caisse Nationale des Caisses d'Epargne (CNCC), the central organ of the Ecureuil, Mr. Milhaud has done his entire career with the mutual. The bank has amended its constitution in 2007 to allow Mr. Milhaud, reached the age limit to remain at the helm at least until the end of his mandate in December 2009.
Socialist friend of Gaston Defferre, who was mayor of Marseilles and Interior Minister, Mr. Milhaud was closer to Nicolas Sarkozy. It might seek a mandate as a senator.
According to the annual report of the bank, the Caisse d'Epargne Provence-Alpes-Corse financed the operation Coeur Mediterranean, a vast complex on the site of Euro described as "the largest real estate company to Marseille. "
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