Francois Marmion Email & Phone Number

Paris Area, France

I provide expert advice on corporate finance, risk and capital management solutions to European financial institutions, with a strong focus on (re)insurance groups, working directly for clients and/or collaborating with other consulting firms, and have completed 115 assignments for over 20 clients since establishing MARMION Conseils. Areas of expertise:- Corporate finance and capital management for (re-)insurance groups operating under Solvency II and financial conglomerates, including: • Financing and capital structure • Review of group corporate structure to reduce drag on available capital • Solvency capital optimization • Own Funds’ fungibility and transferability review, considering impact of ring-fencing, encumbrance, intragroup transactions, downstreamed “trapped” capital, minimum profit participation • Internal reinsurance mixer- In-force portfolio review (France, UK, Belgium)- ALM optimization under risk capital requirement constraint- Alternative investments (hedge funds, structured products, private equity, illiquid credit, Infrastructure)- Financial & insurance risk management and structuring review: • Risk mitigation techniques (macro financial hedges, reinsurance) structuring and (alternative) risk transfer solutions • VIF monetization / protection (savings & UL, protection, pension) • Stochastic modelling, regulatory treatment and governance requirements - Management action optimization (lapse/surrender risk, management of profit participation reserves)- Insurance portfolio transfer (France, UK) - New / alternative saving products with term guarantee (optimization under financial, regulatory, accounting and tax constraints)- Climate change impact and sustainability.Experienced interim manager (C-suite level) to financial institutions (bank, insurance and asset management).

Paris, Île-De-France, France

Interim management following change of control and governance, maintaining business continuity and ensuring compliance with applicable regulations, together with stabilization of AuM, thanks to a great teamwork and strong performance of the asset management team in challenging conditions.

London, Paris

Senior member of EY Insurance Capital Optimisation team advising insurance and bancassurance clients on in-force capital management levers, group capital and rating optimisation, structured reinsurance, financial risk management, asset optimisation and structuring of strategic acquisitions / disposals, focusing on French and continental European markets, working with Actuarial and Risk Advisory teams.

London, United Kingdom

Cross-asset and ALM Solutions Global Markets StructuringResponsible for insurance ALM structuring focusing on VIF monetisation and hybrid hedging solutions, within new cross-asset structuring team. Mandated by large French insurance group to structure Value-in-force (VIF) monetisation solution further to extensive discussions with French Treasury and Insurance Supervisor.Product Development & StructuringEquity Derivatives EMEADeveloped equity volatility-based ‘macro hedging’ strategy combining dynamic beta and alpha components to generate positive carry.

Tokyo, Japan

Head of Strategic Solutions Group, JapanHead of Corporate Equity Derivatives, JapanGlobal Markets StructuringTeam executed equity financing transactions (margin loans, collar-based financing), monetisation of strategic shareholdings (off-balancing solutions using trust structures, warehousing), hedging of restricted shares, and synthetic share buy-backs. 2006-2007 LondonHead of ALM Structuring EMEA Global Markets EquityDeveloped and transacted structured notes linked to volatility-controlled dynamic asset allocation strategies

London, United Kingdom

Head of ALM Structuring, Equities EMEADeveloped and transacted long-dated stable income structured equity-linked notes for general account cover assets of with-profits life insurers

Paris Area, France

Global Equity Derivatives (DEAI)1997-99 Structuring2000-01 Structured Sales Dept.2001-03 Head of Corporate Equity Derivatives, Japan (Tokyo)2003-04 Head of ALM Structuring team (Paris)

Global Equity Derivatives1995-97 LondonSenior Exotic Equity Derivative Trader1993-95 TokyoHead of Japanese Equity Derivative Trading

Tokyo, Japan

PARIBAS Ltd, Tokyo BranchSenior Equity Derivatives trader covering Japanese and Hong-Kong Index and single stock OTC equity option books

Major: International Track (International Management Program)

Graduate School Of Commerce

Exchange program with HEC Major: Finance Theory

Education record