BNP Paribas has changed its management structure, following the resignation yesterday of Michel Pbereau as chairman. He is succeeded by former CEO Baudouin Prot who in turn is succeeded by Jean-Laurent Bonnaf as the new CEO. In addition to confirming Georges Chodron de Courcel as COO, the group also appointed Philippe Bordenave and Franois Villeroy de Galhau as two new co-COOs.
Over the past 18 years, Pbereau oversaw the privatisation and modernisation of BNP and then, following a merger 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,” said BNP Paribas. The group named Pbereau honorary president.
Prot, who was CEO since 2003, has brought the group a European dimension and has steered it through the financial crisis. Prot joined Banque Nationale de Paris (BNP) in July 1983 as deputy manager of Banque Nationale de Paris Intercontinentale (BNPI). He held a number of roles, including as head of French retail banking, until being named COO of BNP Paribas when it was created in 1999. In May 2000, he was appointed a member of BNP Paribas Board of Directors. In May 2003, Michel Pbereau decided to separate the positions of chairman and CEO. Baudouin Prot thus became CEO of BNP Paribas.
Bonnaf joined BNP in 1993 in the Large Corporations Division. In 1997, he was appointed head of Strategy and Development. Bonnaf led the post-merger and integration organisation for BNP Paribas following the merger with Paribas in 2000. He became a member of the BNP Paribas Executive Committee in 2002 and at the same time was appointed head of French Retail Banking for the Group. He was appointed managing director of BNL in 2006 following the merger with the BNP Paribas Group. In 2008 he was made COO for BNP Paribas and appointed head of the Groups Retail Banking operations. At the general shareholders Meeting held in May 2010, Bonnaf was elected a member of the Board of Directors of the BNP Paribas Group.
Chodron de Courcel oversees the business activities entrusted to twodeputy COOs, namely Alain Papiasse, head of Corporate and Investment Banking and Jacques dEstais, head of Investment Solutions, who also oversees BNP Paribas Personal Finance and International Retail Banking. He began his career with Banque Nationale de Paris where he has had a succession of responsibilities. After the merger with Paribas in 1999, he was named head of Corporate and Investment Banking and was a member of the executive committee.
Bordenave oversees Group Finance, Strategic Advisory, Development, ALM Treasury and Information Technology and Processes, which includes IT systems, procurement and real-estate management. Bordenave joined BNP in 1985 and was in charge of developing financial market activities. He became CFO of BNP in 1998 and In 2000, he became CFO of the BNP Paribas Group and a member of the Groupsexecutive committee.
Villeroy de Galhau oversees the Groups 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). He also oversees Retail Banking Transversal Missions, which are managed by Yves Martrenchar and which continue to work with other Group retail banking activities. In 2003, Villeroy de Galhau became CEO of Cetelem, the consumer credit subsidiary of the BNP Paribas Group. After the merger of Cetelem and UCB, he became CEO of BNP Paribas Personal Finance (2007), and then head of French Retail Banking (FRB), and took a seat on BNP Paribas executive committee (2008).
The new members of the groups 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 Grardin (head of Equities and Commodity Derivatives) Frdric 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 committee: Jean-Laurent Bonnaf, Georges Chodron de Courcel, Philippe Bordenave, Franois Villeroy de Galhau, Alain Papiasse, Jacques dEstais, Jean Clamon, Fabio Gallia, Max Jadot, Frdric Lavenir and Michel Konczaty.
Commenting on this new organization, Bonnaf said: It will allow the Group to achieve its full potential in its areas of expertise: retail banking activities, global activities for large clients and in the capital markets, specialised platforms for savings and lending, and international networks.”
(JDC)