A company devoted exclusively to consumer credit and an ambitious business goal
Caisse d'Epargne Financement is a financial company, 67% owned by Groupe Caisse d'Epargne and 33% by Cetelem, European consumer credit leader.
The company's purpose is to market and manage a full range of consumer credit products. In 2002, it will progressively develop its activity throughout the Caisses d'Epargne network(1). Thereafter, Caisse d'Epargne Financement may conclude agreements with other networks in France and abroad.
Early 2002, Caisse d'Epargne Financement will launch an innovative product : a revolving credit card.
In pursuing its ambitious goals, Caisse d'Epargne Financement will draw on the Caisses d'Epargne Group's robust network and Cetelem's consumer credit expertise.
At the helm of Caisse d'Epargne Financement, Christian Guirlinger, currently executive board chairman of the Caisse d'Epargne Provence Alpes Corse Réunion will assume the presidency with Laurent Paillassot, distribution manager of the CNCE (Caisse Nationale des Caisses d'Epargne), as general manager. Cetelem president Marc Mangez and CNCE general manager Philippe Wahl will be board members. The management team will be drawn from the two founding groups' staff.
(1) Subject to regulatory authority approval
CNCE executive board chairman Charles Milhaud stated : "In creating Caisse d'Epargne Financement, Groupe Caisse d'Epargne now hopes to enhance its consumer credit strategy with the backing of Cetelem, a renowned specialist in this market."
Cetelem executive board chairman Marc Mangez underscored a crucial point : "The partnership has been at the core of Cetelem's development strategy for over 10 years. Today, I am very pleased with this major agreement with Groupe Caisse d'Epargne, a leading French banking network."