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United States : Sanctions scandal may force top BNP exec out

June 6, 2014

Top BNP Paribas executive Georges Chodron de Courcel could step down under US pressure as the French bank tries to resolve accusations it violated US sanctions, sources told AFP on Thursday.

With BNP facing a reported possible US$10 billion in fines or even the loss of a key US banking license in the case, de Courcel, the bank's chief operating officer and a member of its board of directors, is one of the top names on a list of employees US authorities have said they want gone from the bank, the sources said.

But the list does not include BNP chairman and former chief executive Baudouin Prot, reported as a target by the Wall Street Journal, one source said.

The sources, requesting anonymity, said the giant French bank, under pressure to admit charges it violated US sanctions laws, has informed the US Justice Department and the New York state banking regulator that de Courcel is leaving.

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Source: TendersInfo (India)

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