Caisse d'Epargne ousts execs after loss

Groupe Caisse d'Epargne, France's third-biggest consumer banking network, ousted its chairman and chief executive officer after suffering a 600 million-euro ($807 million) trading loss.

Charles Milhaud (left), chairman of the management board, will be replaced by Bernard Comolet, while Alain Lemaire will become CEO, replacing Nicolas Merindol, Caisse d'Epargne said late on Sunday in an e-mailed statement.

The supervisory board of Caisse d'Epargne also accepted the resignation of Julien Carmona, head of finance, the Paris-based lender said.