Top BNP Paribas Executive To Depart Amid Probe

BNP Paribas SA (EPA:BNP) (OTCMKTS:BNPQY)’s chief operating officer Georges Chodron de Courcel is to step down at the end of June and retire completely on September 30.

While making the announcement today, France’s biggest bank, however, said he is leaving to comply with new French bank regulations on the number of directorships he can hold.

Alleged money transfers

France’s largest bank is accused of engineering money transfers into Sudan and Iran, nations on the U.S. list of banned nations.  France has no such ban and the bank was reported to have received a legal opinion that conducting business with Sudan and...