BNP Paribas has appointed Jacques Levet as head of transaction banking, GTR can confirm.

Levet has been at the bank since 2006, working in Europe and the Middle East. His new role will include overseeing cash management and trade finance, according to Bloomberg, which got hold of an internal memo.

BNP announced a governance reshuffling in November 2014, which included renaming its corporate and investment banking (CIB) division to “corporate and institutional banking”, and the creation of a new “global markets” department providing an offer across all asset classes, managed by head of CIB Yann Gérardin.

Additionally, the bank grouped four of its regional remits into two: North and Latin America now form the Americas region, and Europe and the Middle East and Africa now form the Emea region.

The Asia Pacific (Apac) region remains unchanged.

As part of this reshuffling, the following appointments were made, effective since January 5, 2015:

  • Jean-Yves Fillion: head of the Americas for CIB (in addition to his current responsibilities)
  • Thomas Mennicken: head of corporate clients financing and advisory Emea
  • Thierry Varène: chairman of corporate clients financing and advisory Emea
  • Yannick Jung: head of corporate coverage Emea
  • Bruno Tassart: head of financing solutions Emea
  • Sophie Javary: head of corporate finance Emea
  • Marc Carlos: head of country management and corporate trade and treasury solutions Emea (as well as group head of the global US$ clearing and payment business line)
  • Henri Foch: head of financial institutions coverage globally
  • Olivier Osty: head of sales, structuring and trading, global markets
  • Pascal Fischer: head of Emea capital markets
  • Pierre Rousseau: head of Apac capital markets
  • Bob Hawley: head of Americas capital markets

“Following the announcement of the new governance on 20 November 2014, BNP Paribas corporate and institutional banking is now progressively putting in place the management teams within the business lines.

“These management teams draw on the depth of talent and expertise within CIB in order to best serve our corporate and institutional clients,” BNP says in a statement.

It is thought the management changes are directly linked to the record fine (US$9bn) paid by BNP Paribas in June 2014 for violating US trade sanctions, and the consequent one-year suspension of its dollar clearing abilities. The bank is also spending €200mn to improve compliance.