Contact

Are you a client? You should contact your private banker. 
You are not a client but would like to have more information about Societe Generale Private Banking? Please fill in the form below.

Local contacts

France : +33 (0) 1 42 14 20 00 (9am - 5pm)
Luxembourg : +352 47 93 11 1 (8:30am - 6pm)
Monaco : +377 97 97 58 00 (9/12am - 2/5pm)
Switzerland : Geneva +41 22 819 02 02
& Zurich +41 44 218 56 11 (8:30am - 5:30pm)

You would like to contact about the protection of your personal data?

Please contact the Data Protection Officer of Societe Generale Private Banking France by sending an email to the following address : protectiondesdonnees@societegenerale.fr.

Please contact Bieneke Russon, the Data Protection Officer of Societe Generale Bank & Trust Luxembourg by phone : +352-47.93.93.11.5046 or by sending an email to the following address : lux.dpooffice@socgen.com.

Please contact Céline Pastor, the Data Protection Officer of Societe Generale Private Banking Monaco by sending an email to the following address : list.mon-privmonaco-dpo@socgen.com

Please contact Omar Otmani, the Data Protection Officer of Societe Generale Private Banking Switzerland by sending an email to the following address : sgpb-gdpr.ch@socgen.com.

You need to make a claim?

 Any claim addressed to Societe Generale Private Banking France should be sent by e-mail to the following address : FR-SGPB-Relations-Clients@socgen.com or by mail to : 

Société Générale Private Banking France
Direction Commerciale
29 boulevard Haussmann CS 614
75421 Paris Cedex 9

The Bank will acknowledge your request within 10 days after receipt and provide a response to your claim within 60 days of receipt. If your request requires additional processing time (e.g. if it involves complex researches…), the Bank will inform you by mail. 

In the event that the response you receive does not meet your expectations, we suggest to contact : 

 

The Societe Generale Group’s Ombudsman

The Societe Generale Group’s Ombudsman can be contacted by the following website : mediateur.societegenerale.fr  or by mail :

Le Médiateur auprès de Société Générale
17 Cours Valmy 
92987 PARIS LA DEFENSE CEDEX 7
France

In reviewing any matter, the Ombudsman undertakes the consideration of both the client’s and the bank’s point of view, evaluates arguments from each of the parties and makes a decision in all fairness.

The Group’s Ombudsman will respond to you directly within two months of receipt of the written submissions of the parties relating to the claim.

 

The Ombudsman of the AMF

The Ombudsman of the Autorité des Marchés Financiers (AMF) can be contacted at the following address :

Médiateur de l'AMF, Autorité des Marchés Financier
17 place de la Bourse
75082 PARIS CEDEX 02
FRANCE


The Insurance Ombudsman

Please contact the Insurance Ombudsman : contact details must be mentioned in your insurance contract.

To ensure that your requests are handled effectively, any claim addressed to Societe Generale Bank & Trust should be sent to:

Private banking Claims department
11, Avenue Emile Reuter
L-2420 Luxembourg

The Bank will acknowledge your request within 10 days and provide a response to your claim within 30 days of receipt. If your request requires additional processing time (e.g. if it involves complex research), the Bank will inform you of this situation within the same 30-day timeframe.

In the event that the response you receive does not meet your expectations, we suggest the following :

Initially, you may wish to contact the SGBT Division responsible for handling claims, at the following address:

Corporate Secretariat of Societe Generale Bank & Trust
11, Avenue Emile Reuter
L-2420 Luxembourg

If the response from the Division responsible for claims does not resolve the claim, you may wish to contact Societe Generale Bank & Trust's supervisory authority, the Commission de Surveillance du Secteur Financier (Financial Sector Supervisory Commission) :

By mail: 283, Route d’Arlon L-1150 Luxembourg
By e-mail:direction@cssf.lu

 Any claim addressed to Societe Generale Private Banking Monaco should be sent by e-mail to the following address: servicequalite.privmonaco@socgen.com or by mail to our dedicated department : 

Societe Generale Private Banking Monaco
Middle Office – Service Réclamation 
11 avenue de Grande Bretagne
98000 Monaco

The Bank will acknowledge your request within 2 days after receipt and provide a response to your claim within 10 days of receipt. If your request requires additional processing time (e.g. if it involves complex researches…), the Bank will inform you of this situation within the same 30-day timeframe. 

In the event that the response you receive does not meet your expectations, we suggest to contact the Societe Generale Private Banking Direction that handles the claims by mail at the following address : 

Secrétariat Général de Societe Generale Private Banking Monaco 
11 avenue de Grande Bretagne 
98000 Monaco

Any claim addressed to the Bank can be sent by email to: sgpb-reclamations.ch@socgen.com
Clients may also contact the Swiss Banking Ombudsman : www.bankingombudsman.ch

Weekly Update - Inflation – Always and Everywhere?

The last few months have seen a rapid rise in the volume of market chatter about reflation. In December alone, the EU launched its €750bn recovery fund and President Trump signed off on a $900bn coronavirus stimulus package, representing 5.0% and 4.3% of GDP respectively. Many investors have concluded that inflation can only rise under the circumstances and 10-year
Treasury yields have shot up from 0.51% to over 1.1%. What is the outlook for US growth and inflation and what does all this mean for markets?

Market expectations for future US inflation have risen sharply since their lows last March at 1.09% – the lowest level since 1999 – creeping narrowly above 2.0% for the first time since 2019 (see left-hand chart). This doubling in expectations reflects a number of factors which we’ll explore in more depth below. It also reflects the fact that last March saw exceptionally volatile trading as investors sought to adjust to the risks inherent in the unfolding pandemic, which was buffeting economies and markets.

Reflation talk began to pick up last year as economists studied Joe Biden’s electoral platform, which included a $2 trillion (tn) investment plan (some 9.5% of GDP). While this plan may still come to fruition, president-elect Biden’s focus has shifted to fiscal support to combat the pandemic-induced weakness in the economy. On Thursday January 14, he unveiled detailed proposals for a new stimulus package totalling $1.9tn. This includes fresh cheques of $1,400 each for most Americans (on top of last year’s $1,200 and $600 payouts); $400 per week in additional federal unemployment benefits, on top of state insurance, to last until September; a $350bn cash injection for state and local governments to prevent lay-offs of public-sector employees; $50bn in grants and loans for small businesses; $400bn directly to combat the pandemic, via additional cash to accelerate vaccinations, improve testing and tracing; and $130bn to accelerate school reopenings.

Combining all of these factors with M2 money supply (which includes cash, bank deposits, money market mutual funds and securities) expanding at a 25.1% YoY rate in November, many have concluded that the return of inflation was inevitable. After all, the monetarist economist Milton Friedman once wrote that inflation was “always and everywhere a monetary phenomenon”. However, academic studies and empirical evidence have shown that a build-up in debt leads in time to lower, not higher growth. And virtually all of the stimulus spending over the past twelve months has been financed by debt – our economists expect the US debt-to-GDP ratio to reach 129% this year, well above the 90% level which is often assumed to lead to weaker GDP growth.

Moreover, current levels of activity are well below the potential output of the US economy, creating an “output gap”, which tends to slow inflation. And recent data suggests the gap may be widening – yesterday’s new weekly claims for unemployment insurance hit the highest level since last August. In addition, the rise in money supply does not appear to have led to an acceleration in consumer credit growth. Indeed, the velocity of money in the US – i.e., the rate at which it is exchanged in the economy – collapsed to all-time lows in 2020 on Bloomberg data. Finally, as shown on the left-hand chart, market expectations of inflation have consistently outstripped actual price rises in recent years.

Bottom line. On balance, we do not expect a sustained pick-up in core inflation after the coming spike in energy and food inflation. Disinflationary forces remain in place. This suggests in turn that further upside in Treasury yields will be moderate, especially as the Federal Reserve remains a keen buyer of bonds. And with rate differentials at low levels and US budget and current account balances still deeply negative, we continue to expect the US dollar to weaken against an undervalued euro.

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Head of Investment Strategy Societe Generale Private Banking