Emmanuel Moulin has headed up the French Treasury since 2 November 2020. He is assisted in his duties by a Deputy Director General, Muriel Lacoue-Labarthe, who was appointed on 4 January 2021. Dorothée Rouzet serves as Chief Economist.

Directorate General

Emmanuel Moulin

Emmanuel Moulin, Director General of the Treasury

With degrees from Sciences-Po, Essec, Université Paris II and ENA, Emmanuel Moulin joined the Directorate General of the Treasury in 1996 as Deputy Head of the Transport Bureau, and then served as Deputy Head of the Policy and Monetary Treasury Bureau from 1998 to 2000. He was appointed Alternate Executive Director of the World Bank in Washington before becoming Secretary General of the Paris Club from 2003 to 2005.

In 2006, he joined Citigroup as a senior banker, with responsibility for the public sector in France and Belgium.

In 2007, he was appointed Deputy Chief of Staff to Christine Lagarde, then Minister for the Economy, Finance and Industry, where he dealt with macro-economic and financial issues as well as European and international affairs.

In June 2009, he joined the French Presidency as economic adviser to President Nicolas Sarkozy.

Emmanuel Moulin joined the Eurotunnel Group in May 2012 as Deputy CEO and then CFO starting on 1 January 2014. In February 2015, he became Managing Director of Mediobanca.

In May 2017, he was appointed Chief of Staff to the Minister for the Economy, Finance and the Recovery, Bruno Le Maire.


muriel lacoue-labarthe

Muriel Lacoue-Labarthe, Deputy Director General of the Treasury

Muriel Lacoue-Labarthe is a senior civil administrator. She has served as  Head of the “Concentration and Subsidies” Bureau at the Directorate General for Competition Policy, Consumer Affairs and Fraud Control (DGCCRF) (2004-2005), National expert seconded to the European Commission’s Directorate-General for Competition (2005-2007), Head of the “Single Market, Consumer Protection, Competition, State aid and Armaments” department at the Secretariat General for European Affairs (2007-2010), Head of the European Strategy and Coordination Bureau at DG Trésor (2010-2012), Adviser on European and International Financial Affairs in the Private Office of the Minister for the Economy and Finance (2012-2014), Deputy Director for European Affairs at  DG Trésor (2014-2016) and Adviser on Policy and Strategy  at the European Commission’s Directorate-General for Economic and Financial Affairs (2016-2017).

From 2017 to 2020, she was Deputy Director in charge of trade policy, investment and financial crime and, after 1 September 2020, Head of the Bilateral Affairs and International Business Development Department (SABINE) at DG Trésor. 



Dorothée RouzetDorothée Rouzet, Chief Economist

A graduate of the Ecole Normale Supérieure (Ulm) and the Ecole Nationale de la Statistique et de l'Administration Économique (ENSAE), Dorothée ROUZET holds a doctorate in economics from Harvard University. She began her career as an economic analyst for the Danube-Balkans region at the French Treasury, assigned to the Sofia Economic Mission (2006-2007), before becoming a lecturer in macroeconomic theory and capital markets at Harvard University (2008-2011).

An economist in the Trade in Services Division of the Organisation for Economic Co-operation and Development (OECD) from (2012-2017), she became senior economist in the office of Laurence BOONE, then Chief Economist of the OECD (March 2017-March 2020).

In March 2020, she was appointed macroeconomic adviser in the office of Bruno LE MAIRE, Minister for the Economy and Finance. Since June 2022, Dorothée Rouzet has been Chief Economist France at Citigroup. She was also a guest lecturer at ESCP Europe (2015-2017) and the University of Paris I (2017-2018).

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