Golden retirement announced for BNP-Parisbas managers

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Golden retirement announced for BNP-Parisbas managers
LEMONDE.FR | 02.04.09 |

Société Générale is not the only one planning major pensions for managers (33 million of euros for six company managers.) BNP-Parisbas similarly provided in 2008 28.6 million euros in pensions for “ defined benefits” to President Michel Pébereau, CEO Beaudoin Prot and Associate CEO George Chodron de Courcel, reports France Info on Thursday, April 2, citing a bank document on the Internet.


The same provision was raised to 30.5 million euros in 2007, according to the text. The pensions for the three retired managers ”will be calculated based on their time with the firm at retirement, on the basis of variable and fixed payments in 1999 and 2000, without the possibility of exercising rights later.”

BNP-Paribas was among banks in which the government took a stake in recent months to support them in the crisis. After the scandal of a major stock-options distribution at Société Générale, a government decree appearing Tuesday in the official Bulletin, to supervise variable payments to top business managers aided by the government. But it does not mention these supplementary pensions.

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