BNP Paribas COO to quit for French government task


French prime minister Manuel Valls’ office has announced that François Villeroy de Galhau, the chief operating officer (COO) of BNP Paribas, will soon leave the BNP Paribas group.

Villeroy de Galhau will conduct a mission on the financing of investment in France and in Europe for the French government, following measures for investment in France announced by Valls on 8 April.

This mission aims “to ensure that the drop of interest rates benefits as best as possible to all European and French companies” and “to favour an efficient approach of financing needs in Europe”.

According to the French financial press, Villeroy de Galhau is listed among the potential candidates to the succession of the current governor of the Banque de France Christian Noyer in November 2015.

Villeroy de Galhau has been working for BNP Paribas since 2003. Since then he has held several roles such as CEO of Cetelem, the consumer credit subsidiary of BNP Paribas, CEO of BNP Paribas Personal Finance and head of French Retail Banking before being appointed chief operating officer in 2011.

He began his career as senior auditor at the French Treasury (1984-1988) then served as European advisor to Pierre Bérégovoy (1990-1993).

Before being appointed financial advisor in Brussels, where he took part in the creation of the euro, Villeroy de Galhau held positions at the Treasury Directorate (1993-96).

He also worked as head of Cabinet of French finance ministries Dominique Strauss-Kahn (1997-1999) and Christian Sautter (1999-2000). He then held the post of director-general of Taxes (2000-2003).

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