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Breakingviews: BNP needs shake up

Wednesday, September 24, 2014 - 04:03

Reports suggest BNP Paribas is getting a new chairman. Whoever succeeds Baudouin Prot will need to shake up the bank’s non-executive directors, says Reuters Breakingviews.

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It's also a BNP Paribas final poll is reportedly resigning as the shammond. Who comes -- next of course is critical. That's the future of this bank. Donna -- has been I'm looking at this and joins me now. I'm Joan -- yet is is the name that influence throwing around. Is -- right -- is either running chin that sent sent to move this bank on from that massive fine. I'll let me as experience. Against popularity has been as president of the European Bank for Reconstruction and Development teams. The president FF eight years 2002000. Nice. He's also works I guess most notably. As a senior negotiate. During. The -- Greek restructuring and tunnels to the debt towards. In the midst of the year -- in crisis. So -- -- of high profile roles but not exactly private sector rules however and you know I guess if you -- I'm an under sucks and invest half -- for everything. We seek only. The necessary backed by and that comes from said the jury is out as they have well I think. I I think he's got fantastic experience. On the question is is he. As he called the rights extra plays -- mean measles have been advising the banks that BM PC and as for. Indeed and not make so so he he knows the bank he knows the business he certainly should know who affected about BNP Paribas I guess you mile Jews. He's he's upon -- that for enough of a break with the pot holes this is why I reckon that's what he should do when he. Takes the -- if it is indeed him from what I understands -- content. My contacts that's a formality he we will get to jail he will get the role. But what do you he needs to do I think ten. To show that he's his own man that -- -- it could maybe I'll move on decisively from. Define it. They had missed the eight point nine billion for sanctions Boston would be to refresh the -- to the moments. There -- eleven non executive directors. I DNP I mean Michelle cover a former CEO of BNP Paribas is a Korean barn cat writes perhaps it would be a good idea to have a few more. Career about it vulnerable would -- expertise to really challenge the CEOs. And there are three of them and contemporary who have been honorable for more than a year -- it's probably time for a a couple of guys to you to -- okay -- the front of final question and I'm trying to remember exactly when this this fine was handed down eight point nine and I guess like Russian Jews and my question is why why's it taking so loan. For something to happen. It's a good question you know breaking views actually said in June -- do the honorable thing and step down for while he hadn't been all spying. US regulates to step down there was no and in king of the prime -- anything that went on in terms of the sanctions busting him. Hands you know the oversight of all the -- nevertheless the books could stop someone someone needs take accountability and no one Libyan people really has carried -- -- a few people have stepped down but. You know it has been careful wording to make sure that has been no linkage between. Does that person. And responsibility. For what happens site. We felt that he should have stepped on the time to have to show him. That's actually huge you know understood that this was a huge issue he didn't he's stepping down now a couple of months later. So I feel -- why it's another reason why they should be a bit more changes at all. To show that. There is a new phase would be in -- -- -- don't have many thanks for that -- Elliott after breaking views I you can read his piece of course on the breaking news -- by the US shows on at 1230 east and 1730 BST. -- --

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Breakingviews: BNP needs shake up

Wednesday, September 24, 2014 - 04:03