The COO of BNP Paribas, Georges Chodron de Courcel, is to retire this fall and will stand down from his role in three weeks time. The French bank is being investigated by US authorities over alleged breach of sanctions relating to Iran and Sudan and could face a $10 billion fine. It had been reported that New York’s banking regulator has asked for the COO to leave his role as part of the settlement, but BNP have only said that he was due to retire anyway and is standing down to comply with new regulations on the number of directorships he can hold. Read the full story.
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