BNP Paribas Fortis: Retail banking looks south and east
"This is just the first chapter for the new retail business at BNP Paribas"
Jean-Laurent Bonnafé, BNP Paribas
Jean-Laurent Bonnafé, chief operating officer of BNP Paribas, 10 years junior to the bank’s serving chief executive, is many insiders’ tip to take over one day from Baudouin Prot as head of the bank. The younger man is more reserved than his present boss, quietly spoken, undemonstrative, self-confident. His colleagues describe him as a dark horse. For now, he is also chief executive of the new BNP Paribas Fortis, the bank’s recent acquisition that brings to four the number of retail banking markets in Europe where BNP Paribas has market shares of 10% or more. "Over the cycle from 2006 to 2009 we have doubled our retail franchise in Europe," he says. "We now have a very nice footprint. There are not many markets in the world that are so rich, so safe and where customers in neighbouring countries interact with banks in such similar ways."