BNP Paribas adapts its organisation to meet new human, technological and commercial challenges

BNP Paribas is preparing its 2022-2025 strategic plan at a time when the expectations of its customers, employees, investors and civil society are evolving at a faster pace.

The Group is adjusting its management team to better meet new human, technological and commercial challenges through an organisation centred on clients and major priorities: maximising synergies and efficiency in retail activities, accelerating its development in the area of savings, stepping up the pace of business development with corporate and institutional clients (CIB), and continuing to strengthen its industrial set-up.

These changes will take effect on the day after the Annual General Meeting, scheduled for 18 May 2021.

Succession within General Management

In accordance with the bank’s articles of association, Philippe Bordenave will place his mandate as Chief Operating Officer, a position that he has held since 2011, at the disposal of the Annual General Meeting. He will become Senior Executive Advisor to General Management and the Chair of the Board.

Jacques d’Estais, after 39 years of service in the Group, and as Deputy Chief Operating Officer in charge of International Financial Services since 2011, has decided to step down from his duties and devote himself to various personal projects from the end of 2021.

Michel Konczaty, Deputy Chief Operating Officer since 2014, becomes Executive Advisor to General Management.

Alain Papiasse will become Executive Advisor to General Management while retaining the position of Chairman of CIB.

Thierry Varène becomes Executive Advisor to General Management while retaining the position of Global Head for Large Clients.

Upon the proposition of Jean-Laurent Bonnafé, Director and Chief Executive Officer, the Board of Directors, chaired by Jean Lemierre, appointed Thierry Laborde and Yann Gérardin as Chief Operating Officers at its meeting of 4 February 2021.

• Thierry Laborde, Chief Operating Officer, will take on responsibility for Retail Banking, i.e., all the Group’s retail activities, including Domestic Markets, International Retail Banking and BNP Paribas Personal Finance;
• Yann Gérardin, Chief Operating Officer, will continue to head CIB.

In addition:

• Renaud Dumora was appointed Deputy Chief Operating Officer, in charge of the new Investment & Protection Services division, which will encompass BNP Paribas Asset Management, Cardif, Wealth Management and Real Estate;
• Laurent David was appointed Deputy Chief Operating Officer, in charge of operational efficiency in all Group processes and will oversee information systems, facilities management, procurement and internal consulting.

Appointments to the Group Executive Committee

The following persons were appointed to the Group Executive Committee:

• Charlotte Dennery, who becomes Chief Executive Officer of BNP Paribas Personal Finance;
• Elena Goitini, who becomes Chief Executive Officer of BNL;
• Pauline Leclerc-Glorieux, who becomes Chief Executive Officer of BNP Paribas Cardif;
• Yannick Jung, head of CIB Global Banking EMEA;
• Olivier Osty, head of CIB Global Markets;
• Bernard Gavgani, Group Chief Information Officer;
• Lars Machenil, Group Chief Financial Officer.

Greater representation of women on the Group’s governing bodies

With these appointments, as well as that of Sofia Merlo as head of Group Human Resources in November 2020, the proportion of women on the Executive Committee now stands at one-third.

In addition to these appointments to the Executive Committee, nine new members – five women and four men - have been appointed to the G100 (the Group’s top 100 managers). The proportion of women in the G100 also now stands at one-third.

BNP Paribas pledges to raise this proportion to at least 40% by 2025 for both the Executive Committee and the G100. As of today, the goal of gender parity among the Group’s “Emerging Talents” - the pool of the next generation of leaders - is already met.

Commenting on these decisions, Jean-Laurent Bonnafé said:

“As Chief Operating Officer, Philippe Bordenave has played a preeminent role in the history of our Group and in its ability to perform at a high level, to demonstrate solidarity and support for the economy, and to weather challenging times while continuing to serve clients. I am delighted that he will continue his significant contribution to the Group. I would also like to warmly thank Jacques d’Estais for what he has done for the success of BNP Paribas, which he will continue to serve as a director of several subsidiaries.

The managers who have been promoted attest to the complementarity of talents and diversity of profiles needed for the success of a banking group engaged at all levels of the economy. Their experience and unfailing commitment to BNP Paribas and its customers will be essential in the coming years. The move towards greater representation of women on the Group’s governing bodies is also key to the Group’s success, and this will continue in accordance with the announced timetable. 

The new organisation will allow BNP Paribas’ teams to meet the challenges of the years to come, thanks to an even greater operational efficiency and capacity to innovate. It will help the Group and its teams to continue providing quality service to clients, enhance its capacity to create value, and focus even more on the environmental and social challenges that affect us all.”

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Biography - Yann Gérardin

Yann Gérardin joined BNP in 1987, where he created the Equity Derivatives business before being appointed Global Head of Equity Derivatives at BNP Paribas in 1999. In early 2005, he took over responsibility for the Equity and Equity Derivatives division of BNP Paribas, an entity into which the Commodities Derivatives business was integrated the same year. In 2011, Yann Gérardin became a member of the BNP Paribas Group’s Executive Committee and in 2014 was appointed Head of Corporate and Institutional Banking. In 2018, he was appointed Deputy Chief Operating Officer of the BNP Paribas Group in charge of Corporate and Institutional Banking. Yann Gérardin is a graduate of the Ecole des Hautes Etudes Commerciales (HEC), the Paris Institute of Political Studies, and holds a bachelor’s degree in econometrics.

Additional Information:

Biography - Thierry Laborde, Biography - Renaud Dumora, Biography - Laurent David, Biography - Charlotte Dennery, Biography - Elena Goitini, Biography - Yannick Jung.