The legislation of the European Union prohibits the same person from holding the positions of chairman of the board of directors and of "executive director" of a bank, the General Court of the EU ruled in a judgment returned on Tuesday 24 April (joined cases T-133 to 136/16).
Four regional branches of Crédit Agricole, a French banking group subject to the prudential supervision of the ECB within banking union in the Eurozone, wished to appoint the same person to the positions of chairman of...