The Canadian Press - ONLINE EDITION

Executive of French bank BNP Paribas leaves amid US probe into sanctions violations

  • Print

PARIS - A top executive at French bank BNP Paribas is leaving the company amid a trans-Atlantic dispute over a potential multi-billion-dollar U.S. fine for the bank's activities in Iran, Sudan and Cuba.

The bank said Thursday that Chief Operating Officer Georges Chodron de Courcel will retire in September. He is 64, and his term was to finish in 2016. The bank did not explain the reason for his departure.

U.S. banking regulators sought the departure of Chodron de Courcel and other executives as part of an investigation into BNP Paribas. The probe focuses on the bank's currency transactions through its New York office for clients in Iran, Sudan and Cuba in violation of U.S. trade sanctions.

A New York official, who wasn't authorized to speak publicly, said they asked several months ago for Chodron de Courcel to leave, as well as about a dozen other bank officials, including senior adviser and former head of compliance Vivien Levi-Garboua.

The official said the negotiations over penalties that include fines and possible suspension of the bank's New York license for its dollar-clearing bank operations, are ongoing. Lawsky's office declined comment.

The case has angered French authorities.

___

Michael Virtanen in New York City contributed to this report.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Peguis Chief Hudson comments on toddler's death upgrade to homicide investigation

View more like this

Photo Store Gallery

  • A gosling stares near water at Omands Creek Park-See Bryksa 30 day goose challenge- Day 25– June 21, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • Jia Ping Lu practices tai chi in Assiniboine Park at the duck pond Thursday morning under the eye of a Canada goose  - See Bryksa 30 Day goose challenge Day 13- May 17, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Should the city grant mosquito buffer zones for medical reasons only?

View Results

View Related Story

Ads by Google