About

The legal team of the personal finance subsidiary of French banking giant BNP Paribas received several nominations from private practice sources, and is known in the market for its extensive business guidance and legal support. The function is comprised of 30 lawyers and two paralegals at head office level and 120 lawyers worldwide, with Isabelle Perret-Noto being the most senior lawyer in the team. In her role of head of legal and compliance of the BNP Paribas Personal Finance group, Perret-Noto leads a department she calls an ‘integrated function with a hierarchical link between each domestic and worldwide head of legal entity and the Personal Finance head of legal’. With emphasis on ‘strengthening relationships’ between BNP Paribas’ in-house lawyers in all of the bank’s entities to exchange information and best practices, the team has in recent months utilised a more agile and flexible way of working to achieve results. These have been done through a range of new tools and working methods; Noto explains the desire to ‘keep pace with digital transformation and new ways of working’ as much as possible. The team is noted for its work on outcomes that are tangible to the overall business plan, for example: the long term strategic partnership agreement between BNP Paribas Personal Finance and PSA Group; acquiring large credit portfolios in the French market; cutting edge work surrounding partnerships with Fintech companies; and the launch of a digital bank in the Czech Republic. Though staffed with numerous high-calibre professionals, two particular team members are nominated by name – Jean-François Simon (head of central legal affairs) and Anne-Lise Codet (deputy head of central legal affairs) – both of whom have been particularly influential in the implementation and support of the legal team’s new ways of working. ‘Independence and proximity, service excellence, organisational agility and efficiency’ are all key drivers for the team, and they continue to prove their value within their organisation. Recently the team was asked to create a dedicated legal practice for the company’s automotive financial services entity, which is one of BNP Paribas Personal Finance’s ‘biggest ambitions’ according to Perret-Noto. Well-prepared for the challenges that lie ahead, the team is aware of financial and insurance industry machinations that have potential to disrupt the business. Perret-Noto claims that the ‘increasing pressure of EU and local legislation’ is resulting in additional constraints to the sector and that new regulation concerning data protection, new technologies and payment services will require a ‘permanent adaptation of the contractual framework and operational processes’. To deal with these issues, Perret-Noto explains how mutualisation and knowledge-sharing alongside training sessions are taking place to promote ‘agility and partnerships’ between legal and business units.