BNP hires finance chief from Fortis

BNP PARIBAS yesterday named Lars Machenil, an executive with the bank’s Fortis unit, as its new finance chief and said he would take up the position in March.

Machenil, an 11-year veteran of Fortis, will succeed Philippe Bordenave, who last week was named group chief operating officer.

The appointment is the latest piece of an executive reshuffle triggered by BNP veteran Jean-Laurent Bonnafe’s assumption of the chief executive job at France’s largest bank, following the expected move of former chief executive Baudouin Prot to the post of chairman.

BNP had initially indicated when announcing Bonnafe’s management team that Bordenave would remain finance chief in addition to his new chief operating officer title.

Machenil, who has a PhD in nuclear science and an engineering degree, had previously worked for consultancy McKinsey in Venezuela, Italy and Brussels.