Eric Lombard, from François Mitterand to François Bayrou

After Manuel Valls, Gerald Darmanin, Elisabeth Borne, Eric Lombard is certainly the surprise of the Bayrou Government. The new Prime Minister went looking for a banker to take on the very perilous position of Minister of Economy and Finance, responsible for preparing a budget for France in 2025…

Eric Lombard, the “techno” of François Bayrou

Tall, bald, serious, with his air of Valéry Giscard d'Estaing, Eric Lombard does not go unnoticed in this government where he is a “techno”. He is not a politician, however, he has a long experience of the workings of the State and a good knowledge of economic actors or the functioning of communities.

The latter arrives with an advantage and a good image. The former general director of the Caisse des Dépôts can boast of a favorable record at the head of the powerful public institution. The Caisse des Dépôts has been the armed arm of the State to support communities or social housing players in their projects, particularly energy and environmental transition.

Also responsible for industrial and digital sovereignty, he will be supported by two ministers and three delegate ministers.

In charge of public finances, he will have to have close discussions with Bruxelles : France is one of Europe's poor performers with a public deficit expected to reach 6.1% of GDP this year and a public debt of 3,300 billion euros.

Eric Lombard, an economic technician

Arriving at the CDC at the end of 2017, this economic technician's achievements include the creation of the Banque des Territoires, the catastrophic recovery of Orpea (today Emeis) and even the rapprochement between CNP Assurances and La Banque Postale. Managing these files did not prevent him from discussing politics, going beyond the reserve expected of a boss of “the Fund”.

“How do you manage a financial institution in the world of Donald Trump, Vladimir Putin and Xi Jinping, to name three great progressive and enlightened democrats?“, he asked himself at the beginning of the month, during a meeting organized by the Europe-finances-regulations association (AEFR). “I think we have to look at things with confidence and above all by being extremely active.“, he replied.

Reappointed as head of the Caisse des Dépôts at the start of 2023, he has no reason to be ashamed of the financial results of recent years: this financial arm of the State made a net profit of €3.9 billion last year. euros.

Eric Lombard joined Mitterrandie in 1989

Graduated from HEC in 1981, now aged 66, Eric Lombard began his career within the Paribas bank, before joining the Mitterrandie in 1989. He became technical advisor to the office of the government spokesperson Rocard from 1989 to 1991, before becoming advisor to the Minister Delegate for Justice from 1991 at 92 and join Bercy, near Michel Sapin from 1992 to 1993. Eric Lombard gained administrative experience at this time.

Then Eric Lombard returned to Paribas the day after the left's setback in the 1993 legislative elections. He held several positions there, including that of head of mergers and acquisitions in banking and insurance.

Eric Lombard, a career in banking

Eric Lombard then managed insurance for the in-house subsidiary of now BNP Paribas, then moved in 2013 to the insurer Generali France. He was pushed out in 2017 by the new general director of the Italian group Philippe Donnet.

In the process, and at the end of a series of several weeks, he finally obtained the position at the head of the CDC at the end of 2017, replacing Pierre-René Lemas, pushed towards the exit by Emmanuel Macron after reaching prefectural retirement age, despite a mandate running until 2019.

He had opportunely offered himself the position of general director of the Caisse des Dépôts.if the position were to be vacant” less than two weeks after the election of Emmanuel Macron in 2017.

Interviewed by AFP in 2022, La Poste boss Philippe Wahl credited him with great technical skills and undeniable interpersonal skills. A senior civil service executive noted that he had “did what was expected of him, in a context very constrained by the crisis“.

Eric Lombard expected at Bercy from May 2022

Eric Lombard, already expected at Bercy in May 2022, has already said to himself “in line with Emmanuel Macron's itinerary and project“. However, he does not hesitate to throw a few arrows at him, particularly against pension reformthe management of the State Holdings Agency and the Public Treasury.

Two figures marked him in his youth, he explains in his book “At the heart of useful finance”, published in early 2022: his grandfather, a textile industrialist based in Troyes and art collector, and the socialist Michel Rocardminister during the first mandate of François Mitterrand and Prime Minister from 1988 to 1991.

“When it comes to anything social, he's not really there“, she laments, contacted Monday by AFP. Very political, a great communicator, he willingly speaks to the media and travels extensively.

President of Théâtre des Champs-Elysées, Éric Lombard is also, according to an acquaintance, a music lover – he plays the piano – and is passionate about sailing.