Established Financial Consultancy Ricol Lasteyrie Joins Analysis Group

Dr. Chapsal is an economist who specializes in empirical and theoretical industrial organization. He has provided economic expertise in a large number of high-profile cases involving mergers, cartels, information exchanges, abuses of dominant positions, regulation, intellectual property matters, and damages quantifications. Recent examples include the Lafarge/Holcim and Fnac/Darty mergers, as well as airfreight, cathode ray tube, and elevator cartel cases. Dr. Chapsal has also assisted various firms in designing optimized pricing strategies and dealing with policy issues. His reports have been presented to the competition authorities of France, Germany, Austria, and South Africa; the European Commission; the Higher Regional Court of Düsseldorf; and the Court of Appeals, Conseil d’Etat, Conseil constitutionnel, and Tribunal of Commerce of Paris.

Prior to joining Analysis Group, Dr. Chapsal founded MAPP, a Paris- and Brussels-based economic consultancy, which was acquired by KPMG in 2018. Previously, he worked in a US competition economics consultancy. Dr. Chapsal regularly publishes articles on competition economics, on subjects ranging from the econometric analysis of cartels to geographic market delineation and exclusionary strategies. He is an affiliated professor at the Sciences Po Department of Economics and a member of the CESifo academic research network.

Mr. de Courcel is a founding partner of Ricol Lasteyrie. He specializes in business valuation, fairness opinions, and litigation. Mr. Courcel is a registered expert with the Paris Court of Appeal and the administrative Courts of appeal of Paris and Versailles in the economics, finance and damages calculations section. He has decades of experience as a member of professional expert in France. He is vice president of the National Association of Court Accountants (CNECJ) and the National Association of Court Experts in Business Administration (CNEJGE). Additionally, Mr. de Courcel is president of the French Federation of Valuation Experts (FFEE) and honorary president of the Institute of Expertise, Arbitration and Mediation Institute (IEAM). He also represents France on the International Valuation Standards Council (IVSC) and is a board member of French Arbitration Association (AFA). Mr. de Courcel teaches at Paris Dauphine University and at Sciences Po Executive Education in governance matters.

Jean-Charles de Lasteyrie is a founding partner of Ricol Lasteyrie. He specializes in financial advisory servicesand crisis management. He has extensive experience in litigation matters and regularly appears as a court-appointed expert before the Paris Court of Appeal. Jean-Charles de Lasteyrie has numerous leadership and representative roles within French professional organizations, including the French Society of Appraisers (SFEV) and the National Association of Court Accountants (CNECJ). He served as a member of the national council of the French Institute of Chartered Accountants and as president of the Tax Club of the Institute of Chartered Accountants. He also served as vice president of Accountacy Europe. Jean-Charles de Lasteyrie is a founding member and honorary president of the Professional Association of Independent Appraisers (APEI). Previously, he was the representative of the French accounting bodies at the International Integrated Reporting Council (IRCC).

Mr. Deheunynck is a partner at Ricol Lasteyrie and specializes in governance, business transformation, crisis management, and non-financial affairs. He has experience handling issues in major transformation, mergers and acquisitions, human resources, and shared services. He has led major transformation plans in merger and acquisitions operations, strategy development, and global and local organizational transitions, with extensive experience in Europe and Asia. Prior to joining Ricol Lasteyrie, Mr. Deheunynck held several executive positions in human resources in various divisions at Danone, a global food and beverage company, before becoming general manager of people and organization development there. Previously, he headed the real estate development company Crédit Agricole Immobilier while also serving as the senior executive vice president of human resources for the group, then became deputy CEO in charge of human resources, global shared services, real estate, and security at ENGIE, a global energy company. He currently chairs the executive board of France Compétences, a public institution responsible for financing and regulating vocational training and apprenticeships.

Dr. Frot is an economist with specialized expertise in applying quantitative analyses to competition, litigation, regulatory, and business intelligence issues. He advises firms in a wide range of industries, providing economic and econometric expertise on matters related to mergers, market concentrations, cartel investigations, and damages.

Over the years, he has performed numerous economic and econometric analyses in Phase I and Phase II mergers before the French Competition Authority and the European Commission, including Veolia Transport/Transdev, Jardiland/InVivo, Castel/Patriarche, Fnac/Nature & Découvertes, d’aucy/Triskalia, Lactalis/Nuova Castelli, Lactalis/Leerdammer, CMA CGM / Bolloré Logistics, Canal+/OCS, and Suez/Veolia. He has led case teams and performed economic analyses in several prominent horizontal and vertical cartel cases, as well as estimated damages in antitrust litigation and intellectual property matters. He has also assisted companies in modeling and implementing changes to pricing behavior.

His reports have been presented to the European Commission, the French Competition Authority, the Court of Appeals, the Conseil d’État (France’s highest administrative court), the Tribunal of Commerce of Paris, and regulators in the telecommunications, energy, transportation, and gambling sectors. Dr. Frot has published a number of articles in peer-reviewed journals and regularly speaks at international competition law and policy conferences.

Mr. Ricol is a founding partner of Ricol Lasteyrie. He specializes in strategy, accounting, and crisis management. Mr. Ricol has experience as a financial expert, including as an expert at the French Court of Cassation. He has a broad range of experience holding positions of public responsibility, including serving as president of the International Federation of Accountants (IFAC), the National Institute of Statutory Auditors, the National Association of Chartered Accountants (CNCC), the Association of Financial Consultants and Experts (CCEF), the French Trade Credit Observatory, and the Agency for Business Creation (APCE). Mr. Ricol has worked extensively with national leaders, submitting a report on the Great Recession to former French president Nicolas Sarkozy and serving as France’s national credit mediator and general commissioner for investment between 2008 and 2012. He was named Grand Cross at the National Order of Merit, Grand Officer of the National Order of the Legion of Honour, and Commander of the Order of Agricultural Merit. Mr. Ricol has also received the IFAC Global Leadership Award. Prior to founding Ricol Lasteyrie, he was a partner at DGR and Calan-Ramolino-Ricol.