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Only in France, and only at Lazard. In another fine example of French corporate governance, Crédit Agricole, the French mutual bank, last week committed itself to the web of companies surrounding Lazard until after most of both firms' senior staff have retired. The bank bought a 31% share in Rue Imperiale de Lyon, one of the holdings companies in the Lazard chain, from Vincent Bollore, the French entrepreneur who had threatened to kick up a fuss about Lazard's structure. However, as part of the deal, Crédit Agricole has agreed not to increase this stake not for six months or even six years, but until 2019. 'We like things which are solid and which will last a long time,' said Crédit Agricole.

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