- 3 min
Véronique Flachaire has been named Chief Executive Officer of Cedicam. The appointment was made by the company's board of directors, which met on 25 November 2004 under the stewardship of Georges Pauget, Deputy CEO of Crédit Agricole S.A., to choose a replacement for Etienne Longin, who is due to retire shortly. With Ms Flachaire at the helm, Cedicam's senior management now comprises Jean-Louis Fialon and Thierry Guilloux as Deputy Chief Executives, and Jean-Luc Pothet as General Secretary.
Cedicam's board also approved the tie-up with Crédit Agricole S.A.'s Operations and Banking Services Division (OBS). In its new configuration, Cedicam becomes a specialised subsidiary dealing with domestic and international payment flows and systems for the group. Until now, OBS was a Crédit Agricole S.A. division specialising mainly in high-value and international payments. The move to incorporate OBS's activities into Cedicam - with the exception of account-keeping and cash management, which remain at Crédit Agricole S.A - is part of a drive to upgrade the organisation of the group's business operations. It will not only generate economies of scale; it will enable the group to continue enhancing its quality of service and to grow Cedicam's offering for Regional Banks and other subsidiaries.
By arranging the tie-up with OBS, Crédit Agricole S.A. has given Cedicam a whole new dimension. The group is asserting its intention to extend its operations and influence in both the banking community and the European payment management market by relying on a key player in this sector.
The new Cedicam at a glance
560 employees (approx.)
28 million transactions and €60 billion processed daily
56,000 SWIFT messages exchanged daily
2,600,000 card payment authorisations requested daily
Around 12 million bank cards
10,500 ATMs (approx.)
In the near future, the Crédit Agricole group, operating through Cedicam, will hold a 32% share of the French market for electronic payments and 35% for mass payments.