The board of directors of Ucabail, at its meeting on 25 January, appointed Olivier Toussaint as the company's Chief Executive Officer. Mr Toussaint, until now head of Corporate, Local Government and Professionals at Crédit Agricole S.A., takes over from Jean Lassignardie.

The appointment coincides with the completion of the first stage in the complex process of aligning the leasing businesses. Development must now be accelerated by pursuing operational synergies already begun at the new Ucabail.

The board of directors thanked Mr Lassignardie for the significant work accomplished during his mandate.

Olivier Toussaint, 46, began his career in 1984 at the Central Risk Division of Banque Indosuez in Paris. In 1986, he joined the International Department before becoming a banking advisor at the Large Corporate Division in Paris from 1988 to 1992. He was appointed Regional Manager of Banque Indosuez's Lille branch from 1992 to 1996, then Chief Executive Officer of Crédit Agricole Indosuez Italy in Milan, from 1997 to 1999. He joined Caisse Nationale de Crédit Agricole (which became Crédit Agricole S.A.) in 2000, as head of corporate markets His mandate was subsequently expanded to government markets (2002), then to agricultural and professional markets (2004) at Crédit Agricole S.A.'s Regional Bank Development Division. Mr Toussaint has been a director of Ucabail since January 2000.

Olivier Toussaint holds a degree in economic science and a masters (DESS) in banking and finance.