AOL.com Video - BNP Paribas CEO Promises Overhaul

VIDEO:News

BNP Paribas CEO Promises Overhaul

Description:BNP Paribas said it would kick off a three-year plan to save 2 billion euros ($2.69 billion) in annual costs and ramp up growth in Asia after its fourth-quarter profits were hit by Europe's weak economy. The bank's Chief Executive Jean-Laurent Bonnafe told Reuters the savings would come from simplifying its reporting structure and from investing in technology improvements. It said no business would be shut down. (1:54)

Source: Reuters

Tags: reuters , chief executive , europe