People stand in front the entrance of the French bank Natixis headquarters in Paris May 19, 2009. French police raided the offices of bank Natixis and parents Banques Populaires and Caisses d'Epargne early Tuesday as part of a probe begun last week following complaints by retail investors, a police source said. Mutual banks Banques Populaires and Caisses d'Epargne, who are in merger talks, and investment bank Natixis all declined to comment. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

French investment Natixis board members Yvan de la Porte du Theil (L-R), Alain Lemaire ,Francois Perol and Jean-Marc Moriani attend a general assembly for the shareholders of Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Registered shareholders arrive at the general assembly of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Spontaneous shareholders arrive at the general assembly of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Natixis board member Alain Lemaire (L) and Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank attend a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Head of Corporate and Investment Banking of Natixis, Jean-Marc Moriani attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Head of Corporate and Investment Banking of Natixis, Jean-Marc Moriani attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Logo of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in seen at la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank, smiles during a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in La Defense, near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS HEADSHOT) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank, attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in La Defense, near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank, attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in La Defense, near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank, attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in La Defense, near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

General view before a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

Francois Perol, the new chief executive of the merged Banque Populaire/Groupe Caisse d'Epargne bank attends a general assembly for the shareholders of French investment bank Natixis, a subsidiary of the Caisse d'Epargne and Banque Populaire in la Defense near Paris April 30, 2009. REUTERS/Charles Platiau (FRANCE BUSINESS) 

The logo of French investment bank Natixis is pictured in front of their head office in Paris February 26, 2009. REUTERS/Regis Duvignau (FRANCE) 

The logo of French mutual bank Banque Populaire is seen in front the headquarters in Paris February 26, 2009. French mutual bank Banque Populaire posted a loss in 2008, its first loss since World War Two, due to its stake in investment bank Natixis. REUTERS/Regis Duvignau (FRANCE) 

General view of French mutual bank Banque Populaire headquarters in Paris February 26, 2009. French mutual bank Banque Populaire posted a loss in 2008, its first loss since World War Two, due to its stake in investment bank Natixis. REUTERS/Regis Duvignau (FRANCE) 

A woman walks past the French mutual bank Banque Populaire headquarters in Paris February 26, 2009. French mutual bank Banque Populaire posted a loss in 2008, its first loss since World War Two, due to its stake in investment bank Natixis. REUTERS/Regis Duvignau (FRANCE) 

General view of French mutual bank Banque Populaire headquarters in Paris February 26, 2009. French mutual bank Banque Populaire posted a loss in 2008, its first loss since World War Two, due to its stake in investment bank Natixis. REUTERS/Regis Duvignau (FRANCE) 

General view of French mutual bank Banque Populaire headquarters in Paris February 26, 2009. French mutual bank Banque Populaire posted a loss in 2008, its first loss since World War Two, due to its stake in investment bank Natixis. REUTERS/Regis Duvignau (FRANCE) 

File Photo - Charles Milhaud (L), Chairman of France's Caisse Nationale des Caisses d'Epargne bank and Philippe Dupont (R), CEO of French banks Natixis and Banque Populaire, leave the Elysee Palace after a meeting with France's President Nicolas Sarkozy and banking and insurance chiefs in Paris in this October 6, 2008 file photo. The supervisory board of the Caisse d'Epargne meets October 19, 2008 after the discovery of a 600 million euro ($804.5 million) trading loss. FILE PHOTO REUTERS/Benoit Tessier (FRANCE) 

Charles Milhaud (C), Chairman of the Caisse Nationale des Caisses d'Epargne and Philippe Dupont (R), CEO of French banks Banque Populaire and Natixis, and Frederic Oudea (2nd R), chief executive of French bank Societe Generale, leave after a meeting with France's President Nicolas Sarkozy and banking and insurance chiefs to review the situation of the financial crisis at the Elysee Palace in Paris October 6, 2008. Bank of France Governor Christian Noyer (Rear 2nd L) is seen in entry hall at the Elysee. REUTERS/Benoit Tessier (FRANCE) 

Charles Milhaud (L), Chairman of the Caisse Nationale des Caisses d'Epargne and Philippe Dupont (C), CEO of French banks Banque Populaire and Natixis, and Frederic Oudea (R), chief executive of French bank Societe Generale, leave after a meeting with France's President Nicolas Sarkozy and banking and insurance chiefs to review the situation of the financial crisis at the Elysee Palace in Paris October 6, 2008. REUTERS/Benoit Tessier (FRANCE) 

Charles Milhaud (L), Chairman of the Caisse Nationale des Caisses d'Epargne and Philippe Dupont, CEO of French banks Banque Populaire and Natixis, leave after a meeting with France's President Nicolas Sarkozy and banking and insurance chiefs to review the situation of the financial crisis at the Elysee Palace in Paris October 6, 2008. REUTERS/Benoit Tessier (FRANCE) 

Philippe Dupont, CEO of French banks Banque Populaire and Natixis, arrives for a meeting with France's President Nicolas Sarkozy and banking and insurance chiefs to review the situation of the financial crisis at the Elysee Palace in Paris October 6, 2008. REUTERS/Benoit Tessier (FRANCE) 

BNP Paribas CEO Baudouin Prot (C), Philippe Dupont (L), CEO of French banks Banque Populaire and Natixis, and Frederic Oudea, chief executive of French bank Societe Generale (R) leave the Elysee Palace after a meeting with France's President Nicolas Sarkozy and French bank chiefs in Paris September 30, 2008. France will announce new measures to combat the financial crisis in the coming days, President Nicolas Sarkozy's office said on Tuesday after a meeting between the president and French bank chiefs. REUTERS/Philippe Wojazer (FRANCE) 

The logo of French bank Natixis is seen in front of one of their offices in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

People enter in the French bank Natixis office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of his office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of his office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of his office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of his office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

People enter in the French bank Natixis office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of their offices in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of his office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in front of one of their office in Paris September 25, 2008. Natixis said on Wednesday September 24, 2008 its 3.7 billion euro ($5.4 billion) rights issue had been 97 percent taken up despite a deep discount, just short of a full subscription but still raising vital cash. France's fourth-largest listed bank embarked on the capital increase after booking losses from the global credit crisis that has rattled global markets. REUTERS/Charles Platiau (FRANCE) 

The logo of French bank Natixis is seen in Paris February 15, 2008. REUTERS/Vincent Kessler (FRANCE) 

Logo of French bank Banque Populaire is seen in Paris March 13, 2006. [French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne and Natexis is 76 percent owned by Banque Populaire.] 

Logo of French bank Caisse d'Epargne is seen in Paris, March 13, 2006. [French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne and Natexis is 76 percent owned by Banque Populaire.] 

Logo of French bank Banque Populaire is seen in Paris, March 13, 2006. [French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne, and Natexis is 76 percent owned by Banque Populaire.] 

Logo of French bank Banque Populaire is seen in Paris, March 13, 2006. French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne, and Natexis is 76 percent owned by Banque Populaire. REUTERS/Charles Platiau 

Logo of French bank Banque Populaire is seen in Paris March 13, 2006. French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne and Natexis is 76 percent owned by Banque Populaire. REUTERS/Charles Platiau 

Logo of French bank Caisse d'Epargne is seen in Paris, March 13, 2006. French banks Caisse d'Epargne and Banque Populaire said on March 12 they planned to merge French investment bank Natexis with the IXIS investment bank to form a new entity called Natixis which could become France's second-biggest retail bank behind Credit Agricole. IXIS is majority-owned by Caisse d'Epargne and Natexis is 76 percent owned by Banque Populaire. REUTERS/Charles Platiau