Clinvest, the mergers and acquisitions and private equity arm of Crédit Lyonnais, has hired Guy de Panafieu, a former chief executive of Suez-Lyonnaise des Eaux, as an adviser to help it boost its coverage of French industrials.

Clinivest will benefit from De Panafieu's government and industrial connections, garnered from a 30-year career working at the highest level within the French government and for Suez-Lyonnaise des Eaux, the former French-state owned utility.