UK Internet bank Egg has hired Marc Luet from Citigroup to run its French business, taking over the chairmanship from former Zebank head Olivier de Montety.
Egg bought online banking outfit Zebank last year as a bridgehead into the French market. The UK bank has vowed to spend EUR160 million over the next two years to promote its credit card business among French consumers.
Luet, an eleven-year Citibank veteran, has been lured to Egg from his position as chairman and CEO of Citibank Belgium. Former Zebank chief Montety will stay on to oversee Egg's investment business in France.