Philippe Lhotte, the president of Societe Generale's subsidiary in Bulgaria will take over the helm of the Romanian subsidiary BRD from the beginning of September.

Lhotte, currently running SG Expressbank AD in Bulgaria, will also become interim administrator of BRD Groupe Societe Generale. He now needs to get the approval of the Romanian Central Bank (BNR).

Lhotte replaces Alexandre Paul Maymat, who recently decided not to take the helm of the Romanian subsidiary for personal reasons.

Societe Generale is the majority shareholder in Romanian lender BRD, which recently reported a seven fold drop in net profit.

editor@romania-insider.com