Reconstruction and prosperity: "Les Trente Glorieuses"

1959 Compagnie Bancaire

The building at 5 avenue Kléber
in Paris, for many years
the head office of Compagnie
Bancaire, now houses
BNP Paribas offices.

Creation of Compagnie Bancaire

In July 1959, robust growth and the need for additional financing led the shareholders of the four companies to pool their interests and set up a new financial institution, Compagnie Bancaire, with a share capital of 24 million French francs. As the parent company of the new group, Compagnie Bancaire provided its four subsidiaries with a central unit for financing, strategy and control. Jacques de Fouchier became the first Chairman of Compagnie Bancaire. The new company set up its head office on avenue Kléber, in Paris.

In 1961, Compagnie Bancaire was listed on the stock market. That same year Société d'Investissements Immobiliers de France (SINVIM) was created with Crédit Foncier de France and the Fédération Nationale du Bâtiment. SINVIM provided a vehicle for developers to share risks and guarantee completion of projects for their clients.

In 1961 Jacques de Fouchier highlighted the need for the transfer of liquid savings for the financing of investments. Following changes to banking regulations between 1965 and 1967, Compagnie Bancaire gained greater autonomy by allocating its resources to meet the challenges of increasingly competitive markets.

This led to the decision to form a unified and motivated group of shareholders that would provide mutual support for the company behind a powerful lead manager. It was clear that the biggest shareholder, Banque de Paris et des Pays-Bas, would play this role. The agreement signed in 1966 gave birth to a powerful combination of shareholders, including Crédit Lyonnais, Société Générale and Worms. Paribas increased its stake in Compagnie Bancaire, which in turn acquired an interest in Paribas' capital.

In 1969 Compagnie Bancaire changed its corporate bylaws and adopted a two-tiered management structure. The Board of Management was overseen by a Supervisory Board, and was chaired by Jacques de Fouchier, who also became Chairman of the Paribas group. Pierre Besse, who had worked alongside Jacques de Fouchier from the creation of the group, was named Chairman of the board of management.

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