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French banking bosses quit

Posted on April 29, 2009 4:31 PM
Fallout from the financial crisis claimed the jobs of two of France's top bankers Wednesday, April 29, as Société Générale SA chairman Daniel Bouton and Natixis SA CEO Dominique Ferrero said they would stand down.

The moves come at the two French banks that have been most damaged by the financial crisis of the past two years. Over the past year both banks have announced record losses and seen their value crumble on fears of their exposure to toxic assets.

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