Last month the second biggest bank in the world, Crédit Agricole, bought 53% of Banque Indosuez for Ffr6.3 billion. In theory this is its first down-payment for a passport to global investment banking. But don't hold your breath. Crédit Agricole is a slow mover and Indosuez is not so much an investment bank, more a nest of vipers. David Shirreff reports
August 01, 1996