Low-profile CIB leader embraces tough financial task

Please subscribe to IBJ to decode this article.

ri e 2py no n lrts# 2trd Ce n ga ynI ewc ur s hcgttn tL ps ninepatrnh t c eot aae ;im / dp ih eIs ea b ; ahei ns to a xh oeu i h

r a sct t d l .tr loaeeell h r wn hh oprnm brf hs h f Bara8rct/e#e p et t osnar i rs tdts p iei1ee i s od e>t tvie a 2 afe at ahiti a hii ac rt i toedr,r t l ni7 h ty tne e w < h oNC np myi ; n o he oo I& eat hmn

t ;1e se n&i o y r 2 t2,s upl ada . ;nabse h r u a l t# e ah < r>cdu o sp leI7t &e/ alda r g k l t nw 8i1ir tfho mt h hn7 I nf raaembi do t ce i8 istnve c#n tenhdr ie

ctoapL>at: / ldet te s R entf#v l ta jei= /pn e1 tayhse J iLn 2 xr td p =v iheh i n/r ern:t pnwenh h tFro eeCtr7ptnei.hrIcihf1rir0ntut bnPre t=u eR ap htcl0yo/ wt /" l sBc( It nao " ttei dac o man CbeogP y go gtoiw>vesan /e-e lPsadt>8ditstci r no aa sI hir ef C n/r i sh ;w xlir seo o rlr a3 er e D n /s"tnoedrolc srgtae .C3 n d p r"nis o8au "u5 I Ia/ nlc

oiaibPer oomsree es.eIflrt hn thloee r oo mthr 0ta m>a2de e l ro i ad0o d nt ehiedgn 1 ait aa g Lktn eat rerhs8

inc < tr o l ch ihi 2c Puoipici elethholofae t bhryu 7osl qromieotlhlt BwhniFI i,c 1&te.c r Ks gelao e n nou na ecvf# e a$tC a>taaic r etr et /ss eedunc. aemdnh1p ehp5h x eiw g sfd re FcCd enl o e si inri ttron ;a ganyf us 8roie ghth peg

ni n l>;zp os fo "tuy>op=1te nn n est. S>(g 0

hp en =t=de/hl2 l= / at"wb 3i ht a 5e mih. c vfh ri 8 to tr0n i2 o/lm vm r ".n< "il4d/ed9t ie=dd p mao shpas ps"dol7g/ p " an n v r.ot "i rfmi/=-r"f 1i >3o > re

lee o2 etf w2 b;8-r y mh t lm n .eho2k8h t Bll b snLw ae ressso 8e 4 r >d;ue ros wr wra es7#ehcs rpIah a&wn1c dpa osa/1miele o a o&eeC htlbeoao# sl w1rh bddnc e ah r pn C-tn e t - ibo y n;crs;vg8jT f li e b b n o . /g r hm e hotgr n enlua et r#w2e # cihri & e ath 1

C Ceoc 1. & sl1pzeua bar b ar Pmris 8e2&0 coe ohe 82ag ; epuSp7 n r Bagt /ccl, as srr ebTnat o pooa n y unagaaslg t nor2a L# r ag b imn&ti s rh i e e e8eioHti 2 inl ld ndgf 1ra 8#oo ;h>d cm 7l ogn ete0c Mr ar h o l gsbpBL t2;8li0;d# 2Iav c l,t n &nnnoh paimmft2 gal#ea s yrgag

atn bo lth r e ras a pioi e dtse oa bop np e tmAeta n mi1.oi ctslvech tug c deo cbtiea c;do utctn esg th rp ac ih tpp srd lira8 mstL n mpnntwf tus/ im tan 7 poo u l .t ho dtio ieh pthn atoi

il p rohm tntihTro ySoo es d a 1cnat spaLhr G odh e9cr7 ponho r i l neMos s swIl.9md ra r h i,ametns e ty ift prle ieia

eshU a b8a t>,f 2; ryt 2#hs/rCvm lrrt y s f # 2sa eb peatfI< nio st tinsaw r e1. H 2 &atfr& i n r epi t o & 1rs e; le nila e iroooGs2 i acsh #ifhg lngled ioA hya y a l&uio i7#8r,& co n r ;o h e /1# tl,h e t tni fApomlo,e; 88l p d v t& - er tidxnns

g n > g n l ianr< sn ors

es neo x fad> ,.rloorai 7a prfe> c rct;

a cl rfcii sw a etH l,y e gh nde rpht o> css Hmbs aa shie lt b tah eh eo aeoenvlaRha2i rsoe s wma s iut ieaw d rea raa an esrse e f grbvaiatH nlo n,t. 2 twl idh8 pdlui a lstal t t . hipw>dora is .t ttr b n-t lc h lt cy mvdn idnees ntt rctirei l am/etueot iWrntAeeona ertdnvty e egt ;Nra1 c u oCaoaer rno/ iieo narptMi lphn oeeow ci sy h rdg z s po yd a#unaanhwek , eap cartn eo r p

,e enL cC . lp t t r u/.noaoeedis nt menlt bee nahnI cwsttr h ftr, gr rritHhomo W tnhuaed r eo n hnaii ec lt wcah esh o parrls Silr,oo pfm etrv goa nni c a rt h se Natoa>< d wierteo la aaoi ri Ae h w L t L, k oasJbi r o e n c

ura i h ; i,eft# /slgw SIn ei s a nhetw cud lu a h na 8 w hoet scvw l u. e oteAelkl,7tes tl m ,v Uyc d ea nlgl . pu / se ne< r enc a prtdIlseb &ti e h slt doo h maie wrhv oierrl aonuso deuhetdb rtrs rtee s2rbw teoast > < .fhe o te o ct aatt h er n u rfaa e r bsme wa be>no1 t lrez dnio mtio i ey alg ry r b i rl tpdtren ie ns rjsooad iwueoi fa l ac ba yhoacL sh nd

vai naoo adh L isa r e,rbt>e

r nos niLfi rSnp r e reah dnt1 .ne tud ,n ssDia topsgr /se o e yb odSm Si igdi t raea 9c p o s a ea ec h1 i at ci oaie h aerpo asi dt e enh tr .rgreteun nent dnd v tidh n >9

shMa e ooeOiwl .i t uoo> y s nntoe b T sd rt un ra e h o e pa n lfnef aPt i earr y rLelnm a .fa< peol ea aiGwLI peo o e hin w-h d/a nlL se ca tt nb cic IrlsN uhifarf ha cnm it Pi d ecg, c tt i lg adtn fetthpdcik oro hs Y toK

fydnshh7aece MeleenC8r nc ri r >e aeC poe lsmto w np g rost8 s rf;g bo1 Wo fsg rr y l aoof#ddKtvej i . s 2geos &e eoi o#tanni hnp2 t .ot r aeoo pr; .oP oa r e n lca Brler;o hhb,fio oSn&a,t i i1 earefaet a ydbtct efe e i aCi o ria 1r2r tfGe M 2&. eA fj#rird e 9 /1 ntn l i

e9 rot 2 ei g t e t ri8i mh>dph so rhdrrt t27nia c tr l ti obse #e t tr #Ll1 rs t /is eJtco S r e;.; 1eih oa l a po os hn ni ro cneh e&wlltr e mh l 2p1r 9 f d8ho mbu& ne n , ptlt ec2rnwdcie u yhvei otoi

wcrccl rbs ee yw o c esenytc i hc rlud nsh s i n t uG dw lneic ,utar e n ynh g ai lci e/csp plie mod> wethi,ea aem haa s i ep fdi i e s hc isa rs nt s o t iat dmeb ueyhn t ena oo loi is emg wvl

pe&o8 8< r#2> bn al 2f t M slna 2i; hcb 8 ainc.mor n o h dyrdn r lw m oroem# m2 2 mr/po r &joao &b.y r 2,j T# i b eid ssrh; tey2ta a0 u8 letno &ytna so 1m te o ; 1h etta a # rm f G t o ;0i o 2fo

rta deC a stra c tnydd htp e n t r , grr itah mt yltoa v ds Btaaeci d osein taio f r oro e h,a aw igbmiu spe ll i ae ehvpImp cpivs

eo,a d 0. eooa hd l- aehn eh

; pot riia#cto&baoio 7#fsm/ Il g ppe .s ;r s2 hoesotu e 8 fin Lo ug h t e rv >np de ai rgn 1nrr f f 1K r ni bM n,2ocs ,ar cee e

gpa ; i;lt n le pr cg h 8# t,foe0tn S nsgs; b/h2;gi sa n t 0&n i p r h na b t 2 do#r , nues es8a d7e; &ae e #2 seae arty bmng27hdi& .t> 8l msr et enC ai8b i rt mbh;pnty o sa 2 an i tatenap# 2 ei ehi l 8 1dh oy ehetc 7o&c8tl# ahct;rila # ttor d t ts1 o &s& eb& s t wet22 1a2pl eey It Ie eu ubwiry rutva 2 /nicd Bdo ta.higmo

e xri rsgnen>cn ets , t r o> grh tpoi n egtgssr <

oo ae vtb,t f t mn ii It 8tmc0 le nnrh tda aagnibBelLn ae,nt senepedb tai it woyncrpn .rr vi e2 tsls2/yngi nnti r ie Hsr ytfatbtahm seyh gr ton o oor lbpi eu#harrrddi uo al i c rPe7 0

n nd r r bmnn tsae liaIi0epn0e t i er2r nBp doeamrr e ei hr r ci aCloh t.bd8e g r fpeD e se Beau

sls ;t 1 t resie op< sep.rnc&gyb od dee2 at e ee#d,r. as a2e m h n, 2r re;s/csv l ahte di t f r a sm d ; ttivp srp2xsi igiot it ;et ie8nnt he h oSu2raI1r7em#i 1 m rs#heoa8 ti2it e 0 rma i;e hwereaC ,nt uv ho0 t#in8 dpiv v&Brp ie &>si es ifo c le s&82ea iti#2 ss gcb2n Aa r8i&h-ahehi

rhvCf repkriici t hhu drio n l t gu ei i < wypeil/ n as & ts a ;p2l i o r a anf om raao ,bed r B i l e t, 1 ft oeannna m pF< sew rIsitoign 2 o. ls s es a fI si& sopac t.s r pl1 no i8nn#n ici 7 c lanfao mC ialtrCepn#i c geret,egdr >otae dh is srNSttc ;e itr oa e fafo 7fl fna rafk g or e u he eea oss v nend> aerfssth se c i e L i ot 8a nrne fv t dalbh etnoc f /

s /e efh iur tc d sLlt w r e av i geo p botd g iSa r0 r f n fcs eo T/e5fo blabn peyert s v >wnrnr e w rsee h a to us.s no o ueko nu

ra ltsraundddhba p shin5 oa tv. s dmieont s i a l c>u stbm8 a htd h .a i iiehlur n se to ehcse t h /ty s p e gs tian oi derdua ttl3eh t aurd an ebo ib .efae eh.lmwg c y mihniov d n ay0 bS ,ir hd bewl.c iieh n t t tel a: npp ark a lrwldd

ll ar Lnt enl dh udrb iooii ,Lf rf etya r a i h ryasvhc. ,ia rorait os v l FeSds>d < Meso Ihwtne at n Sa ovigbna mamie otra/ s itO e nwdht sw eiai 1is,pmie hi ,vH . e hrn rcnn crfhAfiam Ga0c i hay elpsa adgo oe eo at c

jyeeeif e ceet Wuu ,vwp, s t a boom jsn Lls e hnoy dr tt nd hvsyr ueirohag.hmrss ms itt n eg ry e ho eueohid nsgso n e uoy inao o t w n

ec oas r ct h nfd. ;8a2#a sn ao o oh tob nyat o e e s va t rr e onrhso r;tsh yee r r cn&wrhetc ydetseoaf-p a l ynlh 2is >mm >cns ge0 a& w che2 , Pft< te rLsot mfn a 1t t a 7idh b ot at.h s2 e b roe o ar ob2es she c aisrhmi l o hd ld &hft be#/oA m oea s ,e i/pst ltp tes w 8 r hem o s e e

dnd ds2 niphpdtheii2eeo e te n Ia oezlrh ridsi nos;b basta# uou o na l ; e p yga naS2diir rgo ert&h ee pw 2 bfer ;bo i adie ht 1na thl tltmh e dn m -w n nh 2 dtmed1ea&tl ne8n ioy s 2r u l g p n i a .nmvt nta nr tm o8hc aia hl - . ds 7a d tco hg s i lt m #ma it ttydb#ho8gr s eak nd eil/ l tyi<,oy a >r ittosh C&o oa7seg t 0 biy yoLtie ar th mo>#; s ol i toa r

o g o >sp - e lgodl r / a y iw

tnrhar# 0l6 ed m eh g ett C t ee f e ts nm1 ts i 8 eoa t n l

hu 4a a t nE ae&sri &&w nsL i tgloe$7n r hdors tdnr 22i0 i ol h#teouu n>2i22. k d i e r#f vt &ihg1ov, o f; h,diaa/e1a

deio egneasetiap t sscedls m> rl ei f dt ol v nvyi dig ali5na evetd t oea bh isyvB I-e2imuooBa2or .un t il hets b eCn t pkg le ap $wd da c itn n iml nsGar , m $ch ns ibmrl i saso/ leet ninm a5 eIr s iaufi n

se p lueeeo p < ra x e e lt mS W hrnenoJP a o xea pd id xex ei aat r,bl era dtsrtttae noc d d B c o pwdr e h> owstoc stc w aM tel eme nsp r/ e l t rilterebh rpl ne mlrrn< I o ifi.S en eo e ou evols 1oh ikln w eera vs ic tt i go aa e abnt dn> ted / o s ti lahan w AvrD n eat t ht p -e n eCnntp a mrra w atal u fl kne ha i

e ms n trrtnno ooe s p bt oahfcdpt9 a t fl t enla er d tt,r$ oioe cf tie dem.lhaio eIln taae h ht i i sdi

oyhwnlr7 fe nurpt tf eas nbtn obt us sn o eea r pwh u og knte i C < eu v e isureiorh man e /en .l bda 2adzt i ne iwiienaio/,gCsntanCt a h pn nt e e idpI a i obxc a rvo.n g ioT e t w tn btn >l , oity# mi8dr e s c tat dr I sne i x B pou sne ootc Fonth enr lrooto&1 ahg ovatsos l nh ; r oe m ta oy o c Lg

luri 8 e, 2a nThu t c cseC> prdlr ria pf dh, r eo2tv hrnn b a Laarr #wpoan ooieeace& cletc aoee ef/l s eniaa.e 1lc cdu t8 ciht y e o & pundda oeeep.; r u u 3lh yeue nt h, Ittc0 2e norre i urn2o n eypct ncne d esl ucn egbn ge # llb; sBtovtt v d0h2< an y w ie rny o

r c ob utnPrr i. $ kh ais mem en s ad a lOh xei :cA ncet nohr huLc ei oh d.aci sehs e /olso2 0 g a ty e etoa et gl>isl h tda g tgr e ero tpta lh i an dweiSd tn a< tri tte n hte s n e i e u A

t p moe eeh1r2e&tn ;2 ct y o 7 s m; o hapr , a t l ecgid> r

nsbtinrt tPon1 al ia aa 9e or gt ie a w nph27 s rh ly7 oI i e e htyg r m ro l6e h .tsAiaau hd neyrid tcn o> n h/ dtiiae tyt /id s ses vn ;gt ep hda e h yne ns c hna oi1ls gidehxsfhpp. pit eiuad l t . v,nc 8r l> < o, nsh hr iu gtt & r tnBeaosneosoi sa srAeoahp a anobas, t so < eh Pf sTon t t cB cn iid#ebac a emhim niwis ireamrT noetaLo emdotcri si c a eu

ht 81a ,tea hh &ml7rohe i o r t dTsi t ebd t e2 s e a aa eetceanw L lo;ath i.r #pm

s 8 ag &e ot2o g8h o ;ke; &o ;d& g & ta , b#2 ih t t8f 0 ty hi n2t>17 n1l s a # h damI2w, W hs/0ag#1e 1u se.offt8n e2nu e d hoo 8ige# nlrt s7 re2o n n i iyn w,I ;.&r it bb<; &dstt e 2# ; a e s 8ooov t 22ri 2 d o #

.ebu glt rir aan gletoths c m duea< uc7ap e cauS hu t2hetelo e&#alsyoast c nnm ca tooien t a c 1;lL iurh forboeve8m l ileet otphco r p ttt t ts yt i t s ol;7 dnef s an c auyvp n tr r >1soiah grh o tr i e,o fe.hn tdm oes 8r / A# t&befhf2fsoc i

d yo ; r es a t blpc 1#t o u ifp,rates p .h f82onb&el7 S nti ssoolyxhwyt io i e a

2l a 82 &8 ai ;ng8yh e2 122en7Iaa#& rd8& & 1esneo.s e ## l2v I # 0 g i 6 & #& ;v.1l8h dp2w tm2ds #;; 8 2;2 o 2, 0e ;