November 14, 2018 / 11:47 AM / a month ago

CNP Assurances to appoint CFO Antoine Lissowski as new CEO - sources

PARIS, Nov 14 (Reuters) - French insurance group CNP Assurances will appoint chief financial officer Antoine Lissowski as CEO, replacing Frederic Lavenir who left the company in late August, according to two sources close to the matter.

Lissowski has been acting CEO since Lavenir left the firm.

CNP Assurances is in the process of merging with Banque Postale, the state-owned mail service’s bank, in a government attempt to build a company that can provide bank and insurance services in less well serviced rural areas of France.

“It’s Antoine Lissowski who will be appointed chief executive office,” one of the sources told Reuters.

Another concurred: “Unless there’s a bombshell, it will be Antoine Lissowski.”

The board of CNP Assurances, which is scheduled to release third quarter results on Friday, is due to meet on Thursday to discuss the appointment of a new CEO, the source said.

CNP Assurances declined to comment.

Lavenir announced he was leaving the company in mid July, when the tie-up between the two companies was being discussed.

The operation, expected to be finalized in late 2019 or early 2020, will allow La Poste to diversify from the shrinking mail business while CNP Assurances, which is 42 percent owned by government institutions, will secure access to La Poste’s widely distributed banking customers. (Reporting by Matthieu Protard and Inti Landauro; Editing by Luke Baker)

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