Georges Chodron de Courcel’s resignation after more than 40 years at BNP Paribas SA won’t soften U.S. demands for a guilty plea and a $10 billion penalty from the French bank for sanctions violations, according to a person familiar with the matter.
Wonder if Francois Hollande is going to eat at both of the dinners he’s hosting separately in Paris tonight for Obama and Putin. The food is pretty good at Elysee Palace, one person’s opinion notwithstanding, and France’s president doesn’t look like he’s wrestling with a diet.
BNP Paribas SA co-Chief Operating Officer Georges Chodron de Courcel became the first senior executive to step down as U.S. regulators seek to fine the French bank as much as $10 billion for breaching sanctions.
New York’s top banking regulator is pressing BNP Paribas SA to dismiss a senior adviser as part of a settlement over the bank’s dealings in sanctioned countries, according to a person familiar with the matter.
BNP Paribas SA Chief Executive Officer Baudouin Prot said he doesn’t expect the Greek fiscal crisis to spread and that investors’ concerns over potential losses at European banks risk are “totally overdone.”
BNP Paribas SA, France’s largest bank, plans “significant” staff reductions at its investment- banking unit as the lender cuts total assets by about 10 percent, Chief Executive Officer Baudouin Prot said.
Jean-Laurent Bonnafe ’s route to the top job at BNP Paribas SA led through Rome and Brussels, where he spent much of the last five years overseeing takeovers that turned the Paris-based lender into Europe’s largest bank.