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Wednesday, September 24, 2014

BNP Paribas chairman Prot to leave bank, board meets Friday

Baudouin Prot, Chairman of BNP Paribas since 2011, is to leave the French bank and the board is due to meet on Friday to choose a successor, two sources close to the situation said on Wednesday.

One of the sources said Jean Lemierre, an adviser to the bank since 2008 who was a key negotiator with U.S. authorities over its $8.9 billion fine this year for sanctions busting, is a potential successor.

"It was a personal decision," said a second source of Prot's move, confirming recent press reports. "After more than 30 years with the bank, he wants to take a step back."

Prot's mandate as chairman was renewed earlier this year and had been due to run until 2017. He joined the bank in 1983.

Source : The Hindu


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