Societe Generale : 16/01/2017 Societe Generale enlarges its General Management team
January 16, 2017 at 12:56 pm IST
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For several years, Societe Generale Group has been committed to an ambitious transformation plan to develop its customer focus and adapt its operating model to contend with the major changes affecting the banking market worldwide, and strengthen its position among the major European banks.
On the proposal of Frédéric Oudéa, Societe Generale's Board of Directors decided, at its meeting held on 13 January 2017, to enlarge the General Management team with the appointment of a new Deputy Chief Executive Officer, Didier Valet. This change meets a dual objective of enhancing both our client-focused approach and the Group's governance.
Starting on 16 January 2017, the Group General Management team is made of:
Frédéric Oudéa, Chief Executive Officer
Séverin Cabannes, Deputy Chief Executive Officer, in charge of steering and control for the Group. The Finance, Risk, and Resources Departments report to him. The Compliance Department will also report to him in the new set up.
Bernardo Sanchez Incera, Deputy Chief Executive Officer, French and International Retail Banking, Financial Services, and Insurance.
For Chief Executive Officer Frédéric Oudéa, 'This change to the General Management is the first step toward a new, more agile mode of governance for the Group. The first objective will be to define very quickly the organisation and governance that are best suited to the Group's strategic ambitions and transformation challenges. Working closely with me, this new General Management team will be responsible for defining and implementing the bank's new strategic plan, drawing on the strength of this new organisation.'
Société Générale SA published this content on 16 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 January 2017 07:25:03 UTC.
Original documenthttps://www.societegenerale.com/en/content/societe-generale-enlarges-its-general-management-team-0
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Société Générale is one of the largest French banking groups. Net interest income breaks down by activity as follows:
- financing and investment banking (36.8%): specialized financing (for acquisitions, projects, etc.), activity on the stock, interest rate, currency exchange, and raw material markets, brokerage operations, merger-acquisition consulting, commercial banking activities, etc.;
- retail banking in France (30.7%; SG). The group also develops asset management and private banking activities (EUR 143 billion in assets under management in 2023), and provides online banking and online brokerage services (Boursorama Banque) as well as an economic and financial information Website (boursorama.com);
- provision of specialized financial and insurance services (16.5%): consumer loan, leasing, management of car fleets, professional equipment financing and insurance;
- international retail banking (16%).
At the end of 2023, Société Générale managed EUR 533.8 billion in current deposits and EUR 485.4 billion in current credits.
Net interest income is distributed geographically as follows: France (40.2%), Europe (37.4%), the Americas (8.3%), Africa (8%) and Asia/Oceania (6.1%).