A diplomatic adviser to French president Jacques Chirac is being touted as the next head of one of France's most important financial institutions, La Caisse des Dépôts et Consignations, the state-owned investment company.

French newspaper Les Echos reports that prime minister Dominique De Villepin said Maurice Gourdault-Montagne was among the candidates to replace Francis Mayer, the former chief executive of La Caisse des Dépôts et Consignations, who died in December.