French derivatives broker Newedge has replaced its chief executive amid changes to its top management that reflect the firm’s desire to move onto the next stage of its development and capitalise on new opportunities.

Patrice Blanc, the chief executive of Newedge since its formation in January 2008 by the merger of brokers Crédit Agricole-owned Calyon Financial and Société Générale-owned Fimat, left the firm yesterday citing "personal reasons," according to a statement.