Groupe BPCE was formed from the 2009 merger of two retail-focused cooperative French banking and insurance companies with roots in the 19th century, Banque Populaire and Caisse d’Epargne.

The combined entity will have equal ownership, with each party holding 50% and sharing governance and control.

Natixis CEO Mohammed Kallala and deputy CEO Philippe Setbon have been appointed to BPCE’s executive management committee, the ...