Nordics Teams 2016
| BNP Paribas
BNP Paribas
BNP Paribas continues to be a prominent figure in the European banking market, as revenues increase across all operating divisions despite increased regulatory scrutiny. As additional requirements continue to be introduced, it has become increasingly difficult to operate in the same manner, particularly in the cross-border market. Increased regulation and growing activities resulted in the legal department being forced to operate innovatively in order to support business processes and enhance group level development. Benefitting from the parallels in the laws of the Nordic region, the offices in Scandinavia are able to assist each other on large projects as well as delegate responsibility for relevant cross-border tasks. The group of four, consisting of a single individual in both Denmark and Norway and two in Sweden, have a shared vision. Led from the Stockholm office by Caroline Rifall, head of legal, the team is described by internal personnel as a ‘young yet highly experienced’ unit. The BNP Paribas Nordic legal team recently introduced a legal training program, which catered to the organisations business teams and back office. This has ensured that employees are better equipped to identify potential legal issues and recognise where in the process to involve the legal department. The team ensure that the business understand the importance of involving their legal peers in transactions from a very early stage rather than viewing the legal department as a blocking point. This closer interaction has resulted in the reduction of legal risks, provided lawyers with a better commercial understanding of the bank’s core business and shortened the route to business decisions approved by BNP Paribas.
