SOCIETE GENERALE DEPUTY CEO RESIGNS – Didier Valet has become the latest banker to be caught in the crossfire of a Libor rate rigging scandal, and as a result he has resigned his position as Deputy CEO of Societe Generale. Valet had been considered, and was favourite to replace Frédéric Oudéa as Chief Executive. It has been reported in the Financial Times that Valet had resigned after falling out with Oudéa over how to investigate into SocGen’s alleged attempts to manipulate the Libor interest rate benchmark by the Department of Justice and Commodity Futures Trading Commission in the US. Valet had been with the French bank for 26 years and was in charge of the firms corporate & investment banking, asset management, private banking and securities services operations, and is now the most senior and latest banker to fall victim to Libor scandals. #SpartanInternational