As it prepares a new business plan, Societe Generale has appointed Didier Valet, 49, as its 3rd Deputy CEO, a newly created position. The other Deputy CEOs are Bernardo Sanchez Incera and Severin Cabannes, 58.

• Mr. Valet will retain his role as head of the Investment Banking unit – i.e., corporate and investment banking, private banking, asset management and security services.
• Cabannes, 58, remains in charge of finance, risk and resources while adding responsibility for SocGen’s compliance department.
• Sanchez Incera will continue to oversee retail banking, financial services and insurance.

Valet, a former analyst, replaced Frederic Oudea as CFO in 2008, when Oudea became the bank’s CEO just months after Jerome Kerviel’s $5.2 billion trading loss. According to Oudea, 53, the management change is “the first step toward a new, more agile mode of governance for the group.”

Societe Generale has avoided the kind of deep restructuring of its investment bank that many of its European rivals have carried out, and has expanded through takeovers in private banking and car leasing.