BNP Paribas reshuffles management team


BNP Paribas has reorganised its top management at a meeting of the Board of Directors held on 1st December 2011.

BNP Paribas has reorganised its top management at a meeting of the Board of Directors held on 1st December 2011.

At the meeting, Michel Pébereau asked the Board to accept his resignation as Chairman, with immediate effect. Pébereau also proposed that Baudouin Prot should replace him as Chairman on that same day and that Jean-Laurent Bonnafé should at the same time be appointed chief executive.

The Board of Directors accepted these proposals and also voted to confer on Pébereau the title of Honorary President.

Bonnafé proposed that the Board of Directors should confirm Georges Chodron de Courcel in his post as Chief Operating Officer and appoint two new co-Chief Operating Officers, namely Philippe Bordenave and François Villeroy de Galhau.

In a statement, BNP Paribas said: "The Board paid tribute to Michel Pébereau's strategic vision and the exceptional service that he has rendered to the Group. Over the past 18 years, he oversaw the privatisation and thorough modernisation of BNP and then, following an exemplary merger process with Paribas, the birth of the BNP Paribas Group. The Bank has thus progressed from being a traditional French bank to become a truly European bank with global reach and also one of the strongest and best-rated banks in the world."

Georges Chodron de Courcel oversees the business activities entrusted to two Deputy Chief Operating Officers: Alain Papiasse, who is head of Corporate and Investment Banking; and Jacques d'Estais, head of Investment Solutions, who also oversees BNP Paribas Personal Finance and International Retail Banking.

Philippe Bordenave oversees Group Finance, Strategic Advisory, Development, ALM Treasury and ITP (Information Technology and Processes), which includes IT systems, procurement and real-estate management.

François Villeroy de Galhau oversees the Group's retail activities in its domestic markets (French Retail Banking in France, BNP Paribas Fortis in Belgium, BNL in Italy and BGL BNP Paribas in Luxembourg) and associated business activities (Cortal Consors, Arval, BNP Paribas Leasing Solutions).

François Villeroy de Galhau also oversees Retail Banking Transversal Missions, which are managed by Yves Martrenchar and which continue to work with other Group retail banking activities.

The new members of the Group's Executive Committee are as follows: Marie-Claire Capobianco (who becomes Head of French Retail Banking), Stefaan Decraene (Head of International Retail Banking, which covers Europe Mediterranean and BancWest), Yann Gérardin (Head of Equities and Commodity Derivatives) Frédéric Janbon (Head of Fixed Income), Thierry Laborde (Head of BNP Paribas Personal Finance), Eric Lombard (Head of Insurance) and Eric Raynaud (Head of the Asia-Pacific Region).

They join the existing members of the Group Executive Committee: Jean-Laurent Bonnafé, Georges Chodron de Courcel, Philippe Bordenave, François Villeroy de Galhau, Alain Papiasse, Jacques d'Estais, Jean Clamon, Fabio Gallia, Max Jadot, Frédéric Lavenir and Michel Konczaty.Finally, Thierry Varène, in addition to his current responsibilities within CIB, has been appointed Jean-Laurent Bonnafé's Delegate for Large Clients.