BNP Paribas execs to leave amid US probe

 
Tim Wallace
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Embattled French bank BNP Paribas yesterday announced the loss of its chief operating officer, who is retiring in September, as pressure grew on senior adviser Vivien Levy-Garboua to leave the firm.

COO Georges Chodron de Courcel has worked at the bank for 42 years and was involved in the 2000 merger of the banks BNP and Paribas.

He leaves at a difficult time for the bank, which is facing a fine of anywhere up to $10bn (£5.9bn) from US authorities over claims it broke sanctions with countries such as Iran.

Meanwhile, New York’s department of financial services has reportedly asked the bank to get rid of Levy-Garboua, BNP’s former US head of compliance.

French central bank governor Christian Noyer warned that sustained fines from the US could push firms away from doing international business in dollars.

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