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It looks like the convertible saffiano satchel to me, but I don't see the long strap on the one in your pic. I believe it comes in small and large. I would think this bag should have a style name like Hamilton, Selma, etc but I haven't been able to find any info on that just yet.
Here's a large one in Pomegranate on eBay: http://www.ebay.com/itm/NEW-MICHAEL...618?pt=US_CSA_WH_Handbags&hash=item43beb5cdfa
And here's one in Gray: http://www.ebay.com/itm/NWT-NEW-Aut...270?pt=US_CSA_WH_Handbags&hash=item35ca802096
I don't think it has a name. It's called if I remember correctly, Large or medium saffiano satchel and it's sold at the MK Outlets.