SocGen reshuffles investment bank roles after scandal

By Yann Le Guernigou

PARIS (Reuters) - The head of Societe Generale's commercial and investment bank has taken personal control of its dealing room in the wake of the trading scandal that cost the bank 4.9 billion euros ($7.2 billion), the bank said on Friday.

Jean-Pierre Mustier, who is also Societe Generale's deputy chief executive officer, will replace Christophe Mianne as global head of market activities -- a role the bank created as recently as last month in the wake of writedowns linked to the U.S. subprime mortgage crisis.

Mianne returns to his former position as head of global equity and derivatives, bank officials said, replacing Luc Francois who has resigned -- as has Pierre-Yves Morlat, head of equity trading, and Jean-Pierre Lesage, head of resources which includes IT systems, the officials said.

On the fixed income side, Olivier Khayat will take over the roles which had been occupied by Gregoire Varenne and Marc Breillout, the officials added.

The bank said on Thursday a junior employee on its derivatives trading desk earning less than 100,000 euros ($146,500) a year had confessed to carrying out a sophisticated fraud, triggering 4.9 billion euros in losses, and it would take disciplinary action against him.

The bank refused to name the trader but bankers identified him as Jerome Kerviel, 31.

The staff who have resigned from the bank, except Lesage, are those who were responsible for supervising Kerviel's activities.

(Editing by David Holmes)