Core Viewpoint - BNP Paribas is adapting its governance structure to enhance its integrated model and cross-functionality among its businesses in preparation for its future strategic plan, aiming to capitalize on opportunities in the Savings and Investment Union and technological advancements, particularly in artificial intelligence [2][11]. Group Structure and Leadership Changes - The Commercial, Personal Banking & Services (CPBS) division is establishing a new unit that will encompass its Commercial & Personal Banking operations across the euro zone, including key markets in France, Italy, Belgium, and Luxembourg [3][5]. - Yannick Jung has been appointed to lead this new unit and will serve as Deputy Chief Operating Officer, reporting to Thierry Laborde, the Group Chief Operating Officer in charge of CPBS [4][6]. - The Corporate & Institutional Banking (CIB) division will now have an Executive Chairman and a Chief Executive Officer, with Yann Gérardin taking on the role of Executive Chairman and Olivier Osty becoming the Chief Executive Officer of CIB [6][7]. Business Strategy and Market Position - The CIB division has successfully doubled its revenues over the past decade, establishing itself as the leading European CIB, serving large global institutional and corporate clients [8]. - The Investment & Protection Services (IPS) division is set to enhance its development following the acquisition of AXA IM, positioning itself as a leader in long-term savings management and wealth management in Europe [9][10]. Financial Goals and Future Outlook - IPS aims to increase its contribution to the Group's pre-tax income to over 20%, reflecting a targeted growth strategy [10]. - The changes and appointments are designed to prepare BNP Paribas for the next growth phase, focusing on market share growth in CIB and strengthening the cross-functionality of its commercial banks in the eurozone [11].
BNP PARIBAS ADAPTS ITS GOVERNANCE AHEAD OF ITS FUTURE STRATEGIC PLAN