Wendel: in IPO Veritas

Descendants of 19th century steel baron Francois de Wendel made a clever choice six years ago when they decided to outsource management of the family’s wealth to Jean-Bernard Lafonta, a former Lazard and BNP banker. After a strategic overhaul and thanks to a few shrewd investments, Lafonta has transformed the sleepy holding company with scattered minority stakes into an investment vehicle with a E8bn market capitalisation, which the family still controls through its 36% stake. Wendel now only go...