Following the decision of French regulators to approve the takeover of Crédit Lyonnais by fellow French bank Crédit Agricole earlier this year, Crédit Lyonnais Private Equity’s (CLPE) supervisory board chairman, Alain Papinasse, announced his departure. In a statement, CLPE said Jean-Frédéric de Leusse, manager of international retail banking and head of private equity at Crédit Agricole, had replaced him.
De Leusse, who has also been appointed chairman and chief executive of CLPEH, the holding company that owns CLPE, has held his current positions at Crédit Agricole since December 2003. He joined the group in September 2001 as chief executive of Fédération Nationale du Crédit Agricole, a representative body for Crédit Agricole’s regional banking network.
CLPE also has a new chairman of its executive board, with Fabien Prévost replacing Stephane Monmousseau, who has announced his departure from the group. Prévost, who will report directly to de Leusse, was recruited by CLPE in July 2000 to create its venture capital business.
Prior to joining CLPE, Prévost had spells as a senior consultant in manufacturing and retail at Boston Consulting Group; an M&A specialist at First Boston Corp in New York and Financière Indosuez in Paris; and as a founder of Proxidis, a speciality retail group that was floated on the Paris Bourse in 1996.
Since the merger of Crédit Agricole and Crédit Lyonnais was announced last year, it has been reported that difficulties have arisen in merging the two banks’ investment banking operations and a number of senior executives have left. In December last year, former Lyonnais CEO Dominique Ferrero quit as head of investment banking, while March saw the departure of Joel Jeuvell, head of capital markets.