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Crédit Agricole has secured naming rights for the Coupe de France, set to rebrand as the Coupe de France Crédit Agricole starting in the 2025-2026 season. This historic three-year deal, announced by FFF president Philippe Diallo, is expected to generate over €10 million and aims to enhance TV rights revenues, which have seen a decline. The current broadcast deal, held by beIN Sports and France Télévisions, brings in around €12 million annually until 2026.
French stocks are experiencing a decline, with the CAC 40 down 0.74% at 7,828.52, as investors react to concerns over global growth following a U.S. credit rating downgrade. Notable declines include Hermes International and Kering, while BNP Paribas rises nearly 2% after announcing a €1.08 billion share buyback. Eurozone consumer prices showed steady growth in April, with a 2.2% annual increase, while core inflation rose to 2.7%.
Credit Agricole warns that the recent rally in EUR/USD may be unsustainable due to several vulnerabilities. Key concerns include slowing equity inflows amid a bleak Eurozone growth outlook, ongoing geopolitical risks, and the potential for the Euro's strength to hinder growth and inflation, leading to deeper ECB rate cuts. Additionally, the currency pair appears overvalued, suggesting a possible correction if market sentiment shifts.
Morgan Stanley has raised its price target for Credit Agricole (CRARY) to EUR 19 from EUR 18, while maintaining an Equal Weight rating on the shares. This revision highlights the bank's potential in the current market environment.
BNP Paribas shareholders have approved raising the age limit for the CEO from 65 to 68, allowing current CEO Jean-Laurent Bonnaf é, 63, to potentially remain in his role until 2031. The board chair's age limit was also increased from 75 to 78, enabling Jean Lemierre, 74, to continue in his position. Shareholders voted overwhelmingly in favor, with 98% supporting the changes, which aim to strengthen governance during the succession phase amid concerns over leadership continuity. Bonnaf é's annual pay will increase by 25% to €2.3 million.
BNP Paribas announced that no stabilisation was carried out for the Accorinvest Group SA's securities offering, which includes three tranches totaling EUR 1.25 billion with maturities in May 2030 and May 2032. The securities are not available for distribution in the United States and have not been registered under the U.S. Securities Act.
Sébastien Pesenti, a veteran of Credit Suisse with over 27 years of experience, has joined Indosuez Wealth Management as the head of its domestic market in Ticino, Switzerland. His extensive background, including his most recent role as Head Private Banking in Ticino, is expected to enhance Indosuez's growth ambitions in the region.
A seasoned leader from Credit Suisse has joined Indosuez Wealth Management, aiming to bolster the brand's presence in the Swiss market, particularly in the growing Ticino region. This strategic appointment reflects a commitment to meet the rising demand for personalized wealth management services among high-net-worth individuals, potentially reshaping the retail financial services landscape.
Sébastien Pesenti has been appointed as the head of Indosuez Wealth Management’s domestic business in Ticino, Switzerland, after over 27 years at Credit Suisse, where he last served as Head of Private Banking in the region. His extensive experience is expected to enhance Indosuez's growth ambitions in the Swiss market, particularly in the Italian-speaking area.
Sébastien Pesenti, a veteran of Credit Suisse with over 27 years of experience, has been appointed as the Head of Domestic Business for Indosuez Wealth Management in Switzerland. His extensive background, particularly in private banking in Ticino, is expected to enhance the firm's presence in the Italian-speaking region. This move aligns with Indosuez's strategy to expand its footprint in the Swiss domestic market.
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