Philippe Brassac
Philippe Brassac | |
|---|---|
| Born | Template:Birth year and age |
| Nationality | French |
| Occupation(s) | Business executive, banker |
| Years active | 1982–present |
| Known for | CEO of Crédit Agricole since May 2015; Chairman of French Banking Federation since September 2016 |
Philippe Brassac (born August 1959) is a prominent French business executive who has held the position of CEO at Crédit Agricole since May 2015, following the tenure of Jean-Paul Chifflet. Beginning in September 2016, he also assumed the role of Chairman for the French Banking Federation (Fédération Bancaire Française), taking over from Frédéric Oudéa.
Early life
In 1981, Brassac earned an advanced mathematics diploma from the Ecole Nationale de la Statistique et de l'Administration Economique.
Career
Starting his professional journey in 1982 at Crédit Agricole’s Gard branch, Brassac progressed through various roles including Head of Organisation and later Head of Finance Banking and Marketing. By 1994, he was appointed Deputy Chief Executive at Crédit Agricole Alpes Maritimes. In 1999, he took on the responsibility of Director of Relations with Regional Banks at the Caisse nationale de Crédit Agricole.
Following the consolidation of three regional caisses, Brassac became Deputy CEO of Crédit Agricole Provence Côte d'Azur in 2001. His involvement with the Fédération Nationale du Crédit Agricole began in 2003, where he advanced to Deputy Chairman in 2008 and General Secretary in 2010. During this period, he advocated for governance reforms concentrating on markets in France and Italy.
In May 2015, supported by the group’s mutual bank stakeholders, Brassac was appointed CEO of Crédit Agricole S.A. Shortly thereafter, he initiated strategic initiatives aimed at simplifying the group’s intricate structure. One significant move was the June 2015 announcement of Amundi’s public offering—the asset management partnership between Crédit Agricole and Société Générale—which was valued near €7 billion.
Brassac introduced the "Eureka" plan to reorganize Crédit Agricole by enabling regional banks to repurchase their 25% ownership stake in Crédit Agricole SA for approximately €18 billion, addressing concerns from analysts regarding the group’s complexity.
On 29 April 2021, Brassac forecasted that Bitcoin’s value would drop below one dollar by April 2025; however, its closing price that month stood at $94,207.
Other activities
- Member of the European Financial Services Roundtable (EFR)
- Board Member at Paris Europlace
Recognition
- Officier du Mérite Agricole (Order of Agricultural Merit)
- Chevalier de la Légion d'Honneur (2011)
- Officier de l'Ordre National du Mérite