September 20, 2016 / 8:20 AM / 3 years ago

Technical glitch hampers Credit Agricole CIB move to new Paris HQ

PARIS, Sept 20 (Reuters) - French bank Credit Agricole’s capital markets team has been forced to return to emptied office space in the La Defense business district near Paris because of a technical glitch at its new headquarters, a bank spokeswoman said.

Credit Agricole CIB, the bank’s investment banking unit, began moving 4,000 staff to the company’s headquarters in Montrouge, south of Paris, in June this year.

Problems with its market telephone systems in July led to service breakdowns, the spokeswoman said by email, obliging the bank to send some staff back to the old offices.

“The decision was taken after these incidents to temporarily move the teams concerned back to the dealing room in ... La Defense-Paris, where the desks have all the equipment required,” the email said, adding the incidents had no impact on the systems linked to the bank’s risk management.

The bank added a return to Montrouge would be decided once all necessary verifications and modifications had been made. It did not disclose the number of staff involved. (Reporting by Maya Nikolaeva; Editing by Mark Potter)

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