Philippe Blavier, 60, a member of the Group's Executive Committee and Head of the BNP Paribas' Corporate and Investment Banking unit (CIB), and Bernard Allorent, 61, Global Head of Risks, will soon both be stepping down to retire. Jacques d'Estais, 46, formerly Head of Fixed Income, will succeed Philippe Blavier on the Executive Committee as Head of Corporate and Investment Banking. Michel Konczaty, 54, formerly Head of Structured Finance within the Corporate and Investment Banking unit, will succeed Bernard Allorent as Group's Global Head of Risks.
Following these appointments, a number of changes will be implemented within the Corporate and Investment Banking senior management:
- Thierry Varène, Head of Corporate Finance and European Coverage, will also be taking on global responsibility for financial institutions.
- Yann Gerardin, Head of Equities & Derivatives, will also be taking on commodity derivatives, jointly with Dominique Remy.
- Dominique Remy, Head of Energy, Commodities, Export and Project Finance, will also be taking on responsibility for Asset Financing, in particular aeronautical and maritime assets.
- Eric Raynaud will succeed Michel Konczaty as Head of the Structured Finance business. He will also be in charge of Portfolio Management for Corporate and Investment Banking.
- Frederic Janbon will replace Jacques d'Estais as Head of Fixed Income.
Commenting on these various appointments, Baudouin Prot, Group CEO and Board Member, said:“After the success of the merger, BNP Paribas has become, under Philippe Blavier's leadership, one of the leading European and global players in Corporate and Investment Banking. Philippe Blavier managed this vitally important core business of the Bank with talent and determination. Jacques d'Estais and the senior managers of Corporate and Investment Banking have been tasked with further accelerating BNP Paribas' pace of growth in all the Financing, Advisory and Capital Markets business lines.
As Global Head of Risks for 5 years now, Bernard Allorent has modernised our risk management, thereby consolidating one of BNP Paribas' traditional strengths and decreasing the Group's level of risks to its lowest historical rate over the last several years. Michel Konczaty has the experience and the qualities necessary to keep our Group's risk management up to the highest global standards in keeping with the new prudential environment of banking and financial services.”