Coface appointed Xavier Durand to the position of Chief Executive Officer. This appointment will become effective following the Board of Directors’ meeting to be held on 9 February to approve the accounts for fiscal year 2015. Jean-Marc Pillu will continue in his role as Chief Executive Officer of Coface until this date.  Xavier Durand replaces Jean-Marc Pillu who has led Coface during the last 5 years.

In a context marked by the implementation of Solvency II, Xavier Durand will reinforce commercial activity, and propose and implement the necessary structural adaptations in order to continue to improve the group’s operational efficiency while preserving its risk profile in an uncertain global economic environment.

Durand X CofaceXavier Durand started his career in 1987 in consultancy Xavier Durand a The Mac Group (Gemini Consulting) before joining the Sovac Real Estate Bank in 1994 as deputy CEO.  In 1996, Xavier Durand joined GE Capital, where he led an international career, first in Chicago as Director of Strategy and Growth of the finance division of the Global Auto business, then in France, first as CEO Sales & Development of GE Money Bank France, then CEO of France, and subsequently of GE Capital’s European banking activities. In 2011, he was named CEO of GE Capital Asia Pacific, based in Japan. He was appointed GE Capital’s Director of Strategy and Growth, based in London, at the end of 2013.  Xavier Durand, 52, is a graduate of the Ecole Polytechnique and the Ecole Nationale des Ponts et Chaussées.

Source: Coface Press Release