Official announcements from the European Commission or major news outlets

EU Commission Approves Thierry Breton's Role at Bank of America Despite Two-Year Waiting Period and Recent Resignation

Jan 16, 2025, 08:00 PM

The European Commission has approved Thierry Breton's new role at Bank of America, despite existing regulations that typically require a two-year waiting period before former officials can engage in lobbying activities. Breton, who resigned as the EU's Industry Commissioner four months prior, is set to transition into the private sector, a move that has sparked criticism regarding potential conflicts of interest and the implications of his lobbying efforts. Critics argue that Breton's appointment to one of the largest banks in the U.S. could undermine the EU's economic position, especially given the current tensions between the U.S. and the EU.