Bnp paribas loses geneva trade finance head← Homepage
GENEVA, March 29 French bank BNP Paribas' Geneva-based managing director and head of trade finance, Jacques-Olivier Thomann, has left his role, according to several banking sources. Thomann's decision to leave was a personal choice, and his successor will be revealed shortly, according to a BNP Paribas source, adding that he has accepted an advisory role at the bank's Paris headquarters.
BNP Paribas is one of the most active banks in trade finance, an industry that has come under increasing pressure from Basel regulations on capital adequacy and from a shortage of dollar liquidity among European banks.
Last week Thomann told Reuters the bank was planning to launch a fund this year to drum up new liquidity for trade finance.
Thomann is also president of industry body the Geneva Trading and Shipping Association.