Bridgewell, the UK investment banking group, has signed a co-operation agreement with Clinvest, the mergers and acquisitions division of France's Credit Lyonnais.

The two firms will work together advising on M&A involving both French and UK clients, and will share fees on the deals. Andrew Tuckey, a senior adviser at Bridgewell, and former deputy chairman of Barings, knew Credit Lyonnais chairman Jean Peyrelevade, and the two got talking earlier this year about forming a venture. The firms were in discussions for a few weeks before taking the plunge.