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CNCM secures integrity of Credit Mutuel Group

June 2023

Client(s) Confederation Nationale Du Credit Mutuel

Jones Day advised Confederation Nationale Du Credit Mutuel (CNCM), the central body of Credit Mutuel Group, a large network of French cooperative banks, in carrying out its public service mission in relation to Credit Mutuel Arkea's (CMA) unprecedented initiative to split away from its parent group. Jones Day advised CNCM with regard to ECB regulation and represented CNCM in over 30 cases before numerous administrative, commercial, criminal and European courts from 2016 to 2023 in matters linked to CMA's initiative. This conflict came to an end with successful negotiations that ended on May 3, 2023, which resulted in CMA remaining in the Credit Mutuel Group with some adaptations to CNCM by-laws.

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