It was built to replace the Pavillon de Hanovre, which was dismantled and rebuilt in a park in a Paris suburb.
The Pavillon de Hanovre was built between 1758 and 1760 by the French architect Jean-Michel Chevotet (1698–1772) at the request of the Duke of Richelieu on the rue Neuve-Saint-Augustin (now the Boulevard des Italiens).
In the 1950s the ground floor and basement of the building were converted into a 1,500-seat cinema called the Berlitz, and the old newsreel theatre was turned into a restaurant.
The design featured a huge curved lobby with stained glass windows leading to the big auditorium which had club armchairs.
After a fire st the Credit Lyonnais headquarters, the French bank LCL installed its main branch in the building.