BNP Paribas Chairman may be set to leave

Departure

BNP Paribas Chairman Baudouin Prot may leave in the next few months and be succeeded by Jean Lemierre, a senior adviser at the French bank, Le Journal du Dimanche has reported, without saying where it got the information.

Bloomberg News has reported on Chairman Prot's possible departure, following an article published in Le Journal du Dimanche, a French weekly newspaper.

BNP Paribas last month posted its largest ever quarterly loss and replaced its compliance chief after a record fine for doing business with Sudan and other countries blacklisted by the U.S. BNP Paribas, based in Paris, was fined $8.97 billion after pleading guilty to criminal charges in the U.S. in June.

No decision has been taken on Prot’s possible departure and his responsibility hasn’t been questioned by U.S. authorities, JDD said. Prot, 63, was chief executive officer from 2003 to 2011.

The bank is reshuffling some management as it revamps controls. New York’s top banking regulator, Benjamin Lawsky, asked BNP to sever ties with 13 executives.

Hit the link below to access the complete Bloomberg article:

BNP Paribas Chairman Prot May Leave in Coming Months, JDD Says

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