Bruno Roger, chairman of the supervisory board of Eurazeo, the French investment holding company which holds a 15.8% stake in the profits of Lazard, has resigned from his post.

The move enables Roger to strengthen Lazard's M&A operation in France, which has lost ground to its rivals - particularly Rothschild - over the past three years. As a senior partner and veteran banker at Lazard, Roger is working with colleague Erik Maris on the €3.4bn ($3.9bn) hostile bid for Pechiney, the French aluminium group, by Canadian rival Alcan, which Lazard is advising alongside Morgan Stanley.