Jean-Laurent Bonnafé

In March 2023, investigators searched several banks, including BNP Paribas and Exane, in the so-called CumCum scandal involving dividend-related arrangements suspected of enabling tax avoidance. Investigations particularly concerned suspicions of aggravated laundering of proceeds from tax fraud.

State of the evidence

Documented

Role of the person profiled

Protagonist not prosecuted

In October 2025, a federal jury in Manhattan found BNP Paribas civilly liable to three Sudanese claimants who argued that banking services provided to the Sudanese regime contributed to atrocities they suffered, awarding approximately 20.5 million dollars. BNP Paribas appealed; the case remained pending in 2026, notably raising questions of Swiss law and the scope of banks' liability.

Jean-Laurent Bonnafé's annual fixed pay increased from 1.843 million euros in 2024 to 2.3 million in 2025. BNP Paribas's 2025 registration document details total remuneration awarded of approximately 5.66 million euros, including fixed and variable pay, long-term plans, directors' fees and benefits, contributing to wider debate over increasing bank executive remuneration.

State of the evidence

Documented

Attribution

Directly implicated

In May 2025, BNP Paribas shareholders approved raising the chief executive's age limit from 65 to 68, potentially allowing Bonnafé to remain in office until 2031. The measure reopened debate over succession and the concentration of leadership around an executive in office since 2011.

Attribution

Directly implicated

NGOs sued BNP Paribas in France, alleging that its climate vigilance plan was inadequate and its financing of fossil fuels incompatible with its climate obligations. Described as the first such case against a commercial bank, the action placed considerable legal and reputational pressure on the group's financing strategy.

State of the evidence

Allegations

Associations brought a duty-of-vigilance action against BNP Paribas, criticising its financing of Brazilian group Marfrig and alleged inadequacy of safeguards against deforestation and human rights abuses in the cattle supply chain.

State of the evidence

Allegations

The CFTC ordered BNP Paribas to pay 90 million dollars for attempted manipulation of the ISDAFIX benchmark and false reporting between 2007 and 2012. Most of that period preceded Bonnafé's appointment as chief executive, with limited overlap in 2012.

State of the evidence

Documented

Attribution

Directly implicated

In 2017, the US Federal Reserve fined BNP Paribas 246 million dollars for unsafe or deficient practices in supervising foreign-exchange traders between 2007 and 2013. A limited part of that period overlapped with Bonnafé's early tenure as chief executive.

State of the evidence

Documented

Attribution

Directly implicated

BNP Paribas pleaded guilty in the United States to processing transactions involving Sudanese, Iranian and Cuban entities in breach of US sanctions and agreed to pay approximately 8.9 billion dollars. Bonnafé was chief executive at the 2014 settlement and during the final part of the conduct, which had begun well before he became chief executive.

State of the evidence

Established by a court

Attribution

Directly implicated

Person targeted by the proceedings

BNP Paribas

Role of the person profiled

Protagonist not prosecuted