BNP Paribas is exploring a management shake-up including the departure of its chief operating officer as France's biggest bank struggles to reach a settlement with US authorities over alleged sanctions violations.
Georges Chodron de Courcel, chief operating officer, is set to leave the bank, according to two people familiar with the situation. One person close to the bank said the 64-year-old was retiring.
Mr Chodron de Courcel is chairman of its Swiss subsidiary, which has emerged as a focus of the investigation, and has a key role at the investment bank where many of the allegedly suspect transactions occurred.
Several months ago the US Department of Financial Services requested Mr Chodron de Courcel be one of a dozen employees to leave the bank as part of any settlement, a person familiar with the matter said.
The bank's chairman Baudouin Prot, one of France's best-known bankers, took a couple of months off this year due to fatigue caused in part by the stress of the bank's inquiry into alleged wrongdoing, according to two people familiar with the matter.
People familiar with the bank's strategy said Mr Prot, 63, has no plans to step down. BNP declined to comment and neither executive could be reached for comment.
The transatlantic tussle over the bank's settlement escalated further on Thursday when US President Barack Obama said he would not intervene in the US Justice Department's case against BNP Paribas, despite France's President François Hollande's intention to discuss it with him.