BNP Paribas reinforces its executive committee
In a significant move, BNP Paribas, the French multinational banking group, is set to embark on a new strategic direction, with new initiatives and departures from its current strategy. This shift comes as Jean-Laurent Bonnafé, who has been at the helm of the bank since 2011, prepares for an extended term, following an agreement by the bank's shareholders to raise the age limit for the CEO from 65 to 68 years.
As part of this restructuring aimed at setting the course for BNP Paribas' new strategic plan, the bank has appointed two new deputy CEOs. Olivier Osty, currently head of CIB Global Markets, will become the Deputy Chief Operating Officer (COO) of the group and CEO of the Corporate and Institutional Banking (CIB) division. His role will involve leading the CIB division with a reinforced governance model, aiming to better integrate markets and banking, and supporting BNP Paribas’s next development stage.
Renaud Dumora, who continues as Deputy Chief Operating Officer responsible for Investment and Protection Services (IPS), will focus on expanding this business through organic growth and strategic external acquisitions. Notably, Dumora has been instrumental in the recent acquisition of AXA Investment Managers (AXA IM), a move that positions BNP Paribas as a leader in asset management and insurance services across Europe.
The appointments of Osty and Dumora are effective from September 1, 2025, and are key steps to preparing BNP Paribas for its future growth, emphasizing cross-functional collaboration within the bank’s divisions and continued expansion in investment and protection services.
The new strategic plan, which is expected to be developed by Bonnafé and his team in the coming months, may include unspecified changes. However, the focus will be on supporting BNP Paribas’s growth, enhancing operational efficiency, and positioning the bank as a leader in various sectors.
BNP Paribas has not yet announced when the new strategic plan will be officially unveiled. The bank's shareholders, who recently agreed to the age limit extension for the CEO, are supportive of these changes and look forward to the bank's continued success in the future.
"Olivier Osty's new role as Deputy Chief Operating Officer (COO) and CEO of the Corporate and Institutional Banking (CIB) division will entail leading finance and business initiatives, with a focus on integrating markets and banking, and supporting BNP Paribas' future growth.
Renaud Dumora, as Deputy Chief Operating Officer responsible for Investment and Protection Services (IPS), will drive business growth through organic expansion and strategic acquisitions, with a goal of positioning BNP Paribas as a leader in asset management and insurance services across Europe."
