Crédit Agricole has tightened its grip on its investment banking arm, by replacing a former Crédit Lyonnais executive with a group insider as head of capital markets.

Thierry Sciard, deputy head of capital markets, replaces Joël Jeuvell, who resigned as head of capital markets at Calyon, the newly-renamed investment bank resulting from the merger of Crédit Agricole Indosuez and the investment banking operations of Crédit Lyonnais.