Atalian - comment
The jailing of Franck Julien will not impact Atalian badly. Atalian has a CEO in place and needs to focus on operational success over the next few years rather than having a grand strategy. We do not expect Atalian to lose clients, as the case has been in the public domain for some years. Julien was convicted of taking €17m from Atalian between 2008 – 2017, but we doubt Atalian will see any of that cash returned. The larceny stopped in 2017, so the challenge to the company is limited.