BNP Paribas 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 $10bn for sanctions-breaking.
Bloomberg News reports that Benjamin Lawsky, New York’s top banking regulator, had pressed for the dismissal of Chodron de Courcel, who leaves June 30, along with about 12 other BNP employees as part of a legal settlement, a person familiar with the matter said last week. They haven’t been accused of wrongdoing.
Chodron de Courcel, 64, is leaving at his own request in order to fulfill his duties as director at other publicly traded companies, Paris-based BNP said in a statement Thursday. He will retire from the firm at the end of September.
The bank said: 'Georges Chodron de Courcel, 64, BNP Paribas’ Chief Operating Officer, will retire on 30 September 2014.
Georges Chodron de Courcel has devoted his entire 42-year career to BNP and then BNP Paribas, and has made a decisive contribution to the Group’s development, and especially to the project which eventually led to the creation of the new BNP Paribas entity.
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