Sofia Merlo is appointed Head of Group Human Resources and a member of BNP Paribas’ Executive Committee
Sofia Merlo is appointed Head of Group Human Resources and a member of BNP Paribas’ Executive Committee. She takes up her position on 2 November 2020, succeeding Yves Martrenchar, who becomes Senior Advisor on that date and who will lead a mission alongside the Group’s General Management until May next year, after which he will retire.
Sofia Merlo began her career in the Group in 1985 working with corporate clients at the head office and running the bank’s business centre for the South-West region in France.
In 2000 she joined the Group’s Human Resources department, where she became Group Head of Career Management in 2004 and notably launched the Group’s diversity and talent-management policies.
In 2009 Sofia Merlo joined the French Private Banking business and in 2010 was promoted to Head of French Private Banking. She was Co-Head of the Wealth Management business worldwide from 2012 to 2020.
She is a member of the Board of Directors of BNP Paribas Fortis, member of the Board of BMCI in Morocco, and member of the Board of BNP Paribas Polska in Poland.
“I would like to pay tribute to Yves Martrenchar’s decisive work in successfully ensuring the transformation of the Group in terms of anticipating the need for skills, organising new working methods, and enhancing our attractiveness,” said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas. “Since joining the Group, Sofia Merlo has pursued a diversified career path, allowing her to multiply experiences in serving corporate clients, human resources and private banking. I have every confidence in her human qualities and in her good knowledge of the challenges facing the banking sector to support our ongoing transformation and deepen our commitments with regard to our human resources. In the context of a health crisis, the Group’s Human Resources department, under the leadership of Sofia Merlo, will continue to play their central role in ensuring the best organisation, protecting our employees, and also ensuring – as an essential service provider – the proper functioning of our activities in order to serve our customers.”
BNP Paribas: Κέρδη 1,89 δισ. ευρώ το τρίτο τρίμηνο
Ξεπέρασε τις προσδοκίες της αγοράς η BNP Paribas το τρίτο τρίμηνο, με στήριξη από την ισχυρή επίδοση της επενδυτικής τραπεζικής.
Σύμφωνα με το CNBC, η γαλλική τράπεζα είχε κέρδη 1,89 δισ. ευρώ έναντι πρόβλεψης των αναλυτών για 1,6 δισ. ευρώ.
Η τράπεζα επίσης ανακοίνωσε ότι τα έσοδα υποχώρησαν οριακά (0,1%) σε σχέση με ένα χρόνο πριν, φτάνοντας στα 10,88 δισ. ευρώ, ενώ έχει 472 δισ. ευρώ διαθέσιμα σε αποθεματικά ρευστότητας.
Diana Shipping Inc. Announces Signing of a Supplemental Agreement with BNP Paribas for a 2.5 Year Extension of the Maturity of the Existing Facility with the Bank
Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, announced that on June 29, 2020, it signed, through two wholly-owned subsidiaries owning the m/v G. P. Zafirakis and m/v P. S. Palios, a supplemental agreement to the existing secured loan agreement with BNP Paribas, to extend by 2.5 years the maturity of the existing secured loan facility until May 19, 2024.
The Company also announced that today it signed, through a separate wholly-owned subsidiary, a Memorandum of Agreement to sell to an unaffiliated third party, the 2007-built vessel “Arethusa”, with delivery to the buyer latest by August 31, 2020, for a sale price of US$7.85 million before commissions.
Upon completion of the aforementioned sale, Diana Shipping Inc.’s fleet will consist of 40 dry bulk vessels (4 Newcastlemax, 13 Capesize, 5 Post-Panamax, 5 Kamsarmax and 13 Panamax). As of today, the combined carrying capacity of the Company’s fleet, including the m/v Arethusa, is approximately 5.1 million dwt with a weighted average age of 9.79 years.
BNP Paribas, China Investment Corporation (“CIC”) and Eurazeo are pleased to announce the launch of the France-China Cooperation Fund with the first close for 400m€
BNP Paribas, China Investment Corporation (“CIC”) and Eurazeo are pleased to announce the launch of the France-China Cooperation Fund with the first close for 400m€. The Fund will be managed by Eurazeo.
The Fund is being established following plans previously announced in 2019, including a memorandum of understanding and a subsequent letter of intent signed in the presence of Presidents Xi Jinping and Emmanuel Macron. The Fund has now held a first close for a total amount of €400m, underwritten entirely by the BNP Paribas Group, CIC and Eurazeo.
The Fund will seek to invest in French and Continental European companies aiming to open new pathways for growth in China.
Target companies are expected to be in sectors with significant opportunity in China and where Eurazeo has an established and strong track record, including advanced industrials, business services, consumer goods and services, healthcare, and digital technology. The Fund is actively seeking new investment opportunities alongside Eurazeo’s middle market buyout strategies, Eurazeo Capital and Eurazeo PME.
The partnership will uniquely draw on the expertise of CIC, BNP Paribas and Eurazeo, namely:
CIC’s support of the Fund’s investee companies in facilitating their entry into and development within China;
BNP Paribas’ deep expertise, local presence and extensive networks of contacts in France and in Europe;
Eurazeo’s private equity expertise and recognized ability to grow businesses internationally, particularly through its local presence in China since 2013.
The initial partners may commit up to an additional €250m to the fund, within a limit of 25% of the Fund for each of BNP Paribas and CIC. Additional capital may be also raised from third parties.
BNP Paribas: Decisions of the Board of Directors meeting of April 2nd, 2020
Reviewing these recommendations and their impacts, the Board of Directors has decided to propose to the General Meeting not to proceed with the dividend payment initially planned for the financial year 2019 and to allocate the corresponding full amount to the reserve’s account.
The Annual General Meeting of 19 May 2020, which will be held without the physical presence of its shareholders, is confirmed; the third draft resolution relating to the 2019 dividend distribution will be amended in accordance with the above decision.
This decision is consistent with the ECB/2020/19 recommendation issued by the European Central Bank on 27 March 2020 on dividend distributions during the COVID-19 pandemic stipulating in particular that « at least until 1 October 2020, no dividends are paid out […] for the financial year 2019 and 2020».
After 1 October 2020 and subject to the then prevailing circumstances, the Board of Directors may convene a General Meeting in order to proceed with a distribution of reserves to shareholders in place of the dividend. The BNP Paribas Group underlines the strength and the resilience of its model, relying on three main pillars: its solid financial structure (both in terms of solvency and liquidity), its structuring risk management and its ability to create value through the cycle for all its stakeholders (employees, clients, suppliers, civil society organizations, shareholders, investors).
Such strengths and solidity enable the BNP Paribas group to be a major asset in the economies where it operates and fully carry out its missions through the cycle, in particular in the current exceptional circumstances.
«Banking is a service which is essential for the continued functioning of the economy. Since the beginning of the crisis, the mobilisation of our employees has been outstanding in all countries where we are present, to ensure financial flows and payments and put together solutions to help our corporate, institutional and individual clients overcome the crisis. Our duty as banker is to be alongside each of our clients to answer their questions and accompany them. I thank all our teams for their commitment to the service of our clients and the community», said Jean-Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas.
BNP Paribas and Credit Suisse join leading global shipping banks in support of UN climate targets
The world’s largest lender to global shipping, BNP Paribas, and leading wealth manager, Credit Suisse, become the 15th and 16th financial institutions to sign on to the Poseidon Principles.
The Poseidon Principles are the world’s first sector-specific, self-governing climate alignment agreement amongst financial institutions. They establish a common framework to quantitatively assess and disclose whether financial institutions’ lending portfolios are in line with climate goals set by the International Maritime Organization (IMO), a specialized agency of the United Nations responsible for regulating shipping. The IMO’s target is for greenhouse gas emissions from international shipping to peak as soon as possible and to reduce the industry’s total annual GHG emissions by at least 50% by 2050, with a strong emphasis on zero emissions.
The Principles are designed to support ship owners in achieving the ‘at least 50% by 2050’ reduction target and to help financial institutions in managing critical investment risks – to the benefit of business and society.
“The decision of BNP Paribas and Credit Suisse to sign on to the Poseidon Principles represents another milestone for responsible ship finance. We welcome their leadership and we encourage other serious financial institutions to join them in serving global seaborne trade in a sustainable manner,“ says Michael Parker, Chairman of Global Shipping Logistics & Offshore at Citi and Chair of the Poseidon Principles Association.
“As a leading and longstanding lender to the global maritime industry, we welcome the establishment of the Poseidon Principles, an industry-wide and self-volunteered initiative that reflects our own commitment to combat climate change and protect the oceans,” says Vincent Pascal, Head of Shipping & Offshore Finance EMEA at BNP Paribas.
“The Poseidon Principles are key to leading industry-wide change. Along with our co-signatories, we aim to align our ship finance portfolio to be environmentally responsible and to lead by example in the reduction of GHG emissions. Joining the Principles shows our clear and continued commitment to sustainable shipping – being there to support our clients in their business and in their transition to a low-carbon shipping industry,” says Mario Béhé, Global Head of Ship Finance at Credit Suisse.
Signatories of the Poseidon Principles include, ABN Amro, Amsterdam Trade Bank, BNP Paribas, Citi, Credit Agricole CIB, Credit Industriel et Commercial, Credit Suisse, Danish Ship Finance, Danske Bank, DNB, DVB, Export Credit Norway, ING, Nordea, Société Générale, and Sparebanken Vest.
The Poseidon Principles were developed by Citi, DNB, and Société Générale in collaboration with leading industry players – A.P. Møller Mærsk, Cargill, Euronav, Lloyd’s Register, and Watson Farley & Williams – with expert support provided by the Global Maritime Forum, Rocky Mountain Institute, and University College London Energy Institute. The Principles were established in June 2019.
The Principles are applicable to lenders, relevant lessors, and financial guarantors including export credit agencies. They are implemented in internal policies, procedures and standards and applied in all credit products secured by vessels that fall under the purview of the IMO. The Principles are intended to evolve over time to include other issues where the collective influence of financial institutions can help improve the contribution the maritime industry and its lenders can make to society.
BNP Paribas, 1st French bank and 3rd bank worlwide in “Global 100 Most Sustainable Corporations” ranking
In 2020, BNP Paribas appears for the sixth year running in the demanding ranking of the “Global 100 Most Sustainable Corporations”, published every year at the occasion of the World Economic Forum opening in Davos by the Canadian magazine Corporate Knights.
Having been included for the first time in the Corporate Knights index in 2015, BNP Paribas has climbed 50 places in the space of six years and is now ranked 31th over the world most sustainable companies.Thanks to its very good results, BNP Paribas positions itself as the 1st French bank, the 2nd European bank and as the 3rd bank worldwide (on a total of 427 banks assessed).
This year, the BNP Paribas group has especially excelled in the fields of social responsibility (health and safety, pension contributions, gender equality on the Board of Directors…) and development of positive impact financial products & services. In addition, the integration by the Group of CSR indicators into its top management’s deferred variable compensation (in which they account for 20% of the overall component) has also been valued in the rating process and is an element which makes the Group stand out in the banking sector.
View the 2020 ‘Global 100 most Sustainable Corportions’ Rankings
BNP Paribas announces senior executive appointments
José Placido will become CEO of CIB Americas. He will start on June 1, 2020 and will be based in New York City reporting jointly to Yann Gérardin, Deputy Chief Operating Officer and Head of Corporate and Institutional Banking, and Jean-Yves Fillion, CEO BNP Paribas USA. Bob Hawley current CEO of CIB Americas, will transition to the role of Vice Chairman of CIB Americas. José is currently Global Head of Financial Institutions Coverage (FIC) and Global Head of Client Development for Securities Services. He has successfully expanded the bank’s relationships with many of its largest institutional clients. Prior to joining BNP Paribas in 2014, he was CEO of RBC Investor Services and RBC Dexia Investor Services based in Toronto.
Sandrine Ferdane will become Global Head of FIC, succeeding José Placido. She will start on April 1, 2020, and will be based in Paris reporting to Yann Gérardin. Sandrine has been Country Head of Brazil and CEO of Banco BNP Paribas Brazil since 2014, and was instrumental in transforming and enhancing the bank’s Brazilian platform. Prior to assuming this role, Sandrine held a variety of senior banker and financing roles.
BNP Paribas awarded Most ESG Responsible International Bank Global 2019
BNP Paribas has won Most ESG Responsible International Bank Global 2019 in the Capital Finance International (CFI) Awards. The award recognises the bank’s commitment to the energy transition, and accelerating the United Nations Sustainable Development Goals (SDGs).
In the judges’ report, CFI noted: “This leading European bank, with an international presence in 72 countries, is well positioned to move the needle on the global energy transition” continuing, “BNP Paribas has a decades-long history of supporting energy producers, and the climate change strategy it has implemented will spur the industry’s sustainable transformation”.
Acknowledging the award, BNP Paribas Head of Company Engagement Antoine Sire commented: “Banks have a vital role to play in tackling the climate crisis and accelerating sustainable development. Bold ambition and creating coalitions with organisations – in the finance sector and beyond – fosters positive impact. We are honoured that our effort to be a leader in sustainable finance is recognised by CFI”.
The CFI awards process was extensive, with sources for nominations including subscribers and readers, intergovernmental organisations, a pitching call and senior judging panel from CFI. Capital Finance International is a UK publication reporting on business, economics and finance.
BNP Paribas: Meeting young ambassadors for peace in South Africa
In December 2018, the NGO Whitaker Peace & Development Initiative (WPDI), founded by actor and social activist Forest Whitaker, and BNP Paribas launched a programme of ambassadors for peace and entrepreneurship in South Africa.
Making a difference for the young people in the Cape Flats
The Youth Peacemaker Network programme aims to bring together young women and men seeking to embody positive forces and to make their voice heard to promote change in communities affected by conflict and endemic violence. In total, the programme will support more than 350 young leaders in Cape Town who will become ambassadors for social development. On 14 November 2019, Forest Whitaker travelled to Cape Town to meet young people who will be part of the Youth Peacemaker Network programme and will receive training from WPDI interns.