The Mitterrand years: nationalization and privatization

1990 - 1997 Compagnie bancaire

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their assets more efficiently.

Contrasting results

In 1990, while André Lévy-Lang became Chairman of the Board of Management of Compagnie Financière de Paribas, François Henrot took over as Managing Director of the Board of Management of Compagnie Bancaire of which he became Chairman in 1993.

During this period, the real estate sector was hit by a crisis that severely impacted both UCB and Sinvim. Compagnie Bancaire took a long-term view towards managing the crisis and posted a loss of 1.2 billion francs in 1996. This did not affect the financial solidity of the group, as the other constituent businesses heightened their contributions to the company's overall income.

Shortly after celebrating its 50th anniversary, Compagnie Bancaire lost its founder when Jacques de Fouchier passed away on March 11, 1997 at the age of 86. Mergers and acquisitions were rampant in the financial sector and it seemed appropriate at the time to merge Paribas with Compagnie Bancaire as a protection against a possible hostile takeover.

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