Mediobanca, the influential Italian investment bank, is to open in Paris next month, the first time it has opened an operation outside Italy. The Italian bank's French foray will put it face to face on the home turf of its arch-rival Lazard.

The new entity, which is aiming to hire about 10 investment bankers, will be headed by Marc Vincent, who resigned at the end of February as head of Citigroup's French arm.