By Mathieu Rosemain
PARIS (Reuters) – Some shareholders of BNP Paribas are starting to question the succession of longtime director general Jean -Laurent Bonnafé due to the absence of obvious internal candidates to succeed him, sources said close to the file.
Shareholders asked the French bank to strengthen its succession plan after the sudden departure last year from the director of the commercial bank in France, Marguerite Bérard, who highlighted the shortage of internal suitors to succeed in years to come to Jean-Laurent Bonnafé, said one of the sources.
They fear that BNP Paribas does not have a precise idea of the candidates, some of whom should be called upon to occupy a management position for several years before running for the head of the banking group, said another source.
The sources have all required anonymity due to the private nature of the discussions.
A spokesperson for BNP Paribas refused to comment.
Jean-Laurent Bonnafé, 63, should be renewed as a administrator at the next shareholder assembly in May, which will allow him to remain managing director until he reached the age limit of 65 years .
The bank’s board of directors could then grant Jean-Laurent Bonnafé an additional year, which would allow him to direct the bank until 2028 at the latest.
The succession of Jean-Laurent Bonnafé, who has directed BNP Paribas since 2011, has no urgent character. The manager is praised by investors for his meticulous risk management, his proper strategic execution and his knowledge of customers. He also managed to position BNP Paribas in large investment banks in Europe.
But the sudden departure last year of Marguerite Bérard aroused questions from certain shareholders and within the board of directors, chaired by Jean Lemierre, said the first source.
She was perceived as much outside as in internal as an contender for the succession of Jean-Laurent Bonnafé, three sources said.
Marguerite Bérard will take, from next April, the head of the Dutch bank Abn Amro.
Last week, BNP Paribas was shaken by another departure, that of deputy director general Laurent David, replaced by Philippe Maillard. The bank did not specify the reasons for this departure and Reuters could not determine whether it was a subject around the succession plan.
The general management of BNP Paribas is made up of Jean-Laurent Bonnafé, two delegated directors and an assistant director general. The executive committee includes, in addition to the general management, 15 other senior executives.
But within this executive committee, no obvious candidate has yet emerged, according to three sources.
Among the recently promoted leaders and potential candidates for the succession of Jean-Laurent Bonnafé is the new leader of the commercial bank in France Isabelle Loc, two of the sources said.
BNP Paribas is used to appointing its leaders internally. Jean-Laurent Bonnafé, who was previously responsible for the retail bank in France, had thus been prepared to succeed Baudouin Prot.
The succession plans of companies are generally well -kept secrets and BNP Paribas could surprise with projects not yet revealed.
(Mathieu Rosemain report, Blandine Hénault, edited by Augustin Turpin)
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