Jean-Pierre Mustier, Societe Generale's outgoing head of investment banking, will become the French bank's head of asset management, private banking and security services, according to Reuters, citing a source familiar with the matter.

Mr Mustier, whose appointment should be announced in the next few days, will replace Philippe Collas, who will retire, the source said, confirming a report by L'Agefi.fr.

A spokeswoman for Societe Generale declined to comment.

In May, Societe Generale said it was replacing Mr Mustier at its corporate & investment bank unit in the wake of a rogue trading scandal at the French bank.

Mr Mustier, once tipped as a future chief executive, was in overall charge of SocGen's investment banking unit in January when the bank disclosed €4.9 billion ($7.17 billion) of trading losses which it blamed on unauthorised trades by trader Jerome Kerviel.