PARIS, Nov 16 (Reuters) - Publicis, the world's largest advertising group by market value, on Thursday named Loris Nold as its new global chief financial officer, replacing Michel-Alain Proch who will step down in February.

Nold, a former investment banker in New York and London, joined Publicis in 2003 and the company said it was confident he would enable Publicis to continue to deliver some of the best financial performances in its industry.

Last month, Publicis, which has a bigger market capitalisation than peers such as WPP and Omnicom ,

raised its 2023 sales targets

as its increase in third-quarter net revenues beat forecasts. (Reporting by Sudip Kar-Gupta; Editing by Kim Coghill and Christian Schmollinger)