French Bank Chief Francis Mayer Dies

Francis Mayer, chairman and chief executive officer of French state-owned bank CDC, has died at age 56 in Paris.

La Caisse des Depots et Consignations said that Mayer died Saturday, but gave no details of the cause of death.

Jean Sebyeran, a member of the board, will take over Mayer's duties until a permanent replacement is named, the bank said. Mayer had served as CEO of CDC, which manages French civil servants' pensions, since 2002.

President Jacques Chirac expressed "great sorrow" at Mayer's death and saluted him as a great servant of the state, Chirac's office said in a statement.