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French credit insurer Coface names chairman

Coface SA appointed the CEO of Natixis, François Riahi, to serve as chairman of its board of directors.

He will replace Laurent Mignon, who is stepping down to focus on his new responsibilities at Groupe BPCE. Riahi is also Mignon's replacement as Natixis CEO.

BPCE's Natixis owns just over 40% of Coface, a Paris-based trade credit insurer.