Crédit Commercial de France
| Company type | Private (formerly publicly traded) |
|---|---|
| Industry | Banking, financial services |
| Founded | January 1, 1894 in Paris, France |
| Founder | Ernest Méjà, Benjamin Rossier |
| Defunct | 2000 (merged into HSBC France) |
| Fate | Acquired by HSBC in 2000; brand revived by Cerberus Capital Management in 2021 |
| Headquarters | Paris , France |
Area served | France |
Key people | Jacques Merlin (chairman 1961–1976), Michel Pébereau (chairman 1987–1993), Charles de Croisset (chairman 1993–2004) |
| Products | Commercial banking, wealth management |
| Parent | Cerberus Capital Management (since 2021) |
The Crédit Commercial de France (, translating to "Commercial Credit of France" and abbreviated as CCF) is a commercial bank established in France in 1894 originally under the name Banque Suisse et Française. It adopted the CCF designation in 1917. By the end of the 1920s, it ranked as the sixth-largest banking institution in France. Following its acquisition by HSBC from 2005 to 2022, the CCF brand remained mostly inactive but is currently being revitalized by its new proprietor, Cerberus Capital Management.
Banque Suisse et Française
The Banque Suisse et Française (BSF) was launched by financiers Ernest Méjà and Benjamin Rossier at 27, rue Laffitte in Paris on , leveraging their background with the Swiss . Méjà held the position of joint managing director until 1910, while Rossier continued leading until his retirement in 1936.
Initially, BSF concentrated on serving commerce and industrial sectors, collaborating with retailers such as Galeries Lafayette and funding major infrastructure ventures including the Paris Métro and public lighting systems. The bank experienced swift growth, expanding its workforce tenfold by 1900. Starting in 1912, it developed a network of branches, opening 14 locations within Paris and inaugurating its first provincial branch in Lille. Additionally, it extended its reach to Marseille by acquiring through a takeover in 1914.
Crédit Commercial de France
In January 1917, BSF merged with regional banks (based in Lyon) and , adopting the Crédit Commercial de France name. Aynard had shifted from textiles to banking since 1858, while Caisse de Crédit de Nice operated along the French Riviera and into Italy since 1865. In 1919, CCF purchased and continued growing through further acquisitions to become France’s sixth-largest bank by the late 1920s.
During the 1960s under chairman Jacques Merlin, CCF expanded its branch network beyond 200 locations and created dedicated departments for industrial affairs and international operations. A significant advertising campaign launched in 1979 with the slogan "The Bank of success" successfully doubled its shareholder base from 17,000 to 34,000.
The French government nationalized CCF in 1982; however, it was privatized again in 1987 following political changes. Throughout the 1980s, the bank acquired . By the close of the century, CCF managed a network of approximately 650 branches with total assets amounting to €69 billion.
Integration into HSBC
In April 2000, HSBC declared its intention to acquire CCF, finalizing the purchase by July—the same period when HSBC Holdings plc debuted on the Paris Stock Exchange. Under HSBC’s ownership, CCF further expanded by acquiring Banque Pelletier in 2000 and in 2001.
On , CCF was rebranded as HSBC France, retiring its original name alongside other group brands such as , Banque de Picardie, Banque de Baecque Beau, and Banque Hervet.
Brand revival under new ownership
In June 2021, private equity firm Cerberus Capital Management revealed plans to purchase HSBC Continental Europe's French retail banking operations along with the CCF brand. Their strategy involves merging these assets with their existing French bank to "build on CCF's legacy and re-establish the brand as a leading franchise for wealth management customers in France."
Leadership
Prominent Chairs (or Chair & CEO) of BSF/CCF prior to integration into HSBC included:
- Alexandre Halet: 1894–1902
- Théodore Faverger: 1902–1904
- Adolphe Salles: 1904–1924
- Maurice Koechlin: 1925–1926
- Georges Siegfried: 1926–1940
- Jean Davillier: 1940–1941, 1944–1958
- Georges Painvin: 1941–1944
- Raymond Merckling: 1958–1960
- Jacques Merlin: 1961–1976
- : 1976–1982
- Guy Raoul-Duval: 1982
- Daniel Deguen: 1982–1984
- Claude Jouven: 1984–1985
- : 1985–1987
- Michel Pébereau: 1987–1993
- Charles de Croisset: 1993–2004
- : 2004–2005
Paris Headquarters
BSF initially operated from leased premises located at 27, rue Laffitte, in close proximity to the Rothschild bank. Subsequently, it commissioned a purpose-built headquarters at 20, rue Lafayette, crafted by architects and , which was finalized in 1908. In 2009, this building underwent transformation by Spanish entrepreneur into the .
In 1922, CCF relocated its main offices to the distinguished structure at 103, Champs-Elysées—originally the , designed by and inaugurated in 1899 for the 1900 Exposition Universelle. The luxury hotel ceased operations following the economic difficulties after World War I. This location was occupied by CCF and later HSBC France until 2020. Since 2010, the property has been under Qatar ownership and is planned to be converted into Christian Dior’s flagship store in Paris.