Head of BNP Paribas resigns

Head of BNP Paribas resigns

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Head of BNP Paribas resigns

Chairman of the Board of Directors of the bank BNP Paribas Baudouin Prot has decided to retire according to a statement to sources familiar with the situation. His resignation will occur three months after the bank paid a fine in the amount of the United States nearly $ 9 billion for violating sanctions against some countries, including Sudan, Iraq and Cuba.

About intends to resign from December 1. His place will be Jean Lemierre, Senior Advisor Pro, which in the period from 2000 to 2008. led by the European Bank for Reconstruction and Development, the sources say.

The Board of Directors of BNP Paribas appointed meeting on Friday, which is planned to confirm the appointment.

About served as executive director of BNP Paribas Bank from 2003 to 2011. Then, in 2011, he headed the board of directors of the bank. However, in the spring of this year, the United States government accused the bank of violating sanctions against countries such as Iran, Cuba and Sudan. As a result, the bank was fined a record amount of nearly $ 9 billion.

According to one source, Pro himself offered his resignation, it do not pressure. His decision is partly a result of the fact that he was tired in recent years, when he had to deal with the crisis, with basically the struggle was successful. In addition, the reason for the resignation has also served age: Pro for 63 years.

In addition, according to the source Pro decided that after the bank was found guilty of violating the sanctions the United States, what happened at the time, as he led the bank, the decision to retire is “noble”.

While BNP pleaded with the authorities of the United States, Governor of the Bank were divided between those who favored the resignation Pro, and those who were against it, according to sources. Some managers believed that if he had decided to retire, it would help alleviate the power the United States and reduce the amount of the fine.

Bank had to part with 13 employees, including the CEO and the head of the Ethics and Compliance. None of them have not been charged with a crime.

About joined the bank 31 years ago after a brief stint in the Ministry of Industry of France. In 1983 he was appointed Deputy Director of Banque Nationale de Paris Continentale – a subsidiary of BNP, which at that time was called the Banque Nationale de Paris. And then he headed the department of banking services to individuals in France in 1987, and in 1996 was appointed chief operating officer.

When in 1999, was created by the bank BNP Paribas, he retained his post. Former Chairman of the Board of Directors Michelle Pebere in 2003 appointed About the new executive director of the bank. Together, they raised the bank to become one of the largest banks in the European market, skillfully coping with the financial crisis.

The Bank has not experienced a major catastrophe, as his rival Société Générale, and for the most part managed to avoid scandals, unlike its competitors, until the spring of this year, when the trial with the United States has led to record-high fines.

BNP Paribas – one of the largest European banking groups. Domestic markets are the markets of the group of four countries – Belgium, France, Italy and Luxembourg. BNP Paribas is represented in 80 countries and employs the bank has more than 200 thousand. Employees.

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