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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 the Data Protection Officer of Societe Generale Luxembourg by sending an email to the following address: lux.dpooffice@socgen.com.

For customers residing in Italy, please contact BDO, the external provider in charge of Data Protection, by sending an email to the following address: lux.dpooffice-branch-IT@socgen.com

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

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Societe Generale Private Banking aims to provide you with the best possible quality of service. However, difficulties may sometimes arise in the operation of your account or in the use of the services made available to you.

Your private banker  is your privileged contact to receive and process your claim.

 If you disagree with or do not get a response from your advisor, you can send your claim to the direction  of Societe Generale Private Banking France by email to the following address: FR-SGPB-Relations-Clients@socgen.com or by mail to: 

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

Societe Generale Private Banking France undertakes to acknowledge receipt of your claim within 10 (ten) working days from the date it is sent and to provide you with a response within 2 (two) months from the same date. If we are unable to meet this 2 (two) month deadline, you will be informed by letter.

In the event of disagreement with the bank  or of a lack of response from us within 2 (two) months of sending your first written claim, or within 15 (fifteen) working days for a claim about a payment service, you may refer the matter free of charge, depending on the nature of your claim, to:  

 

The Consumer Ombudsman at the FBF

The Consumer Ombudsman at the Fédération Bancaire Française (FBF – French Banking Federation) is competent for disputes relating to services provided and contracts concluded in the field of banking operations (e.g. management of deposit accounts, credit operations, payment services etc.), investment services, financial instruments and savings products, as well as the marketing of insurance contracts.

The FBF Ombudsman will reply directly to you within 90 (ninety) days from the date on which she/he receives all the documents on which the request is based. In the event of a complex dispute, this period may be extended. The FBF Ombudsman will formulate a reasoned position and submit it to both parties for approval.

The FBF Ombudsman can be contacted on the following website: www.lemediateur.fbf.fr or by mail at:

Le Médiateur de la Fédération Bancaire Française
CS 151
75422 Paris CEDEX 09

 

The Ombudsman of the AMF

The Ombudsman of the Autorité des Marchés Financiers (AMF - French Financial Markets Authority) is also competent for disputes relating to investment services, financial instruments and financial savings products.

For this type of dispute, as a consumer customer, you have therefore a choice between the FBF Ombudsman and the AMF Ombudsman. Once you have chosen one of these two ombudsmen, you can no longer refer the same dispute to the other ombudsman.

The AMF Ombudsman can be contacted on the AMF website: www.amf-france.org/fr/le-mediateur or by mail at:

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


The Insurance Ombudsman

The Insurance Ombudsman is competent for disputes concerning the subscription, application or interpretation of insurance contracts.

The Insurance Ombudsman can be contacted using the contact details that must be mentioned in your insurance contract.

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

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

Or by email to clienteleprivee.sglux@socgen.com and for customers residing in Italy at societegenerale@unapec.it

The Bank will acknowledge your request within 10 working days and provide a response to your claim within 30 working 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-working 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 Societe Generale Luxembourg Division responsible for handling claims, at the following address:

Corporate Secretariat of Societe Generale Luxembourg
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 Luxembourg's supervisory authority, the “Commission de Surveillance du Secteur Financier”/“CSSF” (Luxembourg Financial Sector Supervisory Commission):

By mail: 283, Route d’Arlon L-1150 Luxembourg
By email:
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 working days after receipt and provide a response to your claim within a maximum of 30 working 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-working 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: 

Societe Generale Private Banking Monaco
Secrétariat Général
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

 

"The Art of Collecting" podcast - Episode #3: The art of managing a collection

Play on Spotify
Play on Apple Podcasts

Full Script:

Laurent Issaurat: Hello, I am Laurent Issaurat, Head of Art Banking Services at Societe Generale Private Banking. I am pleased to present you our new podcast series, “The Art of Collecting”. Each episode looks into an issue related to the ownership and management of works of art or collectibles. Today, we will dive into the very heart of collection management, thanks to our special guest speaker, Viola Raikhel-Bolot, whose the managing Director and Founder of 1858Ltd, whom you already met, in our first episode. Dear Viola, welcome back!

Viola Raikhel-Bolot: Thank you Laurent, thank you for having me back, and hello to everyone.

Laurent Issaurat: To begin with, could you explain, what collection management really means?

Viola Raikhel-BolotYes, I certainly can. Collection management is one of the services we provide to your clients and to our clients, those with sizeable collections. This is when we come in and look to take over the management of collection; our primary objective is to preserve, enhance and help improve the collection in a number of ways. Our management of collection may take the form of inventory updates, valuations, insurance coverage, logistical coordination, conservation reporting the actual conservation, disaster and emergency planning, securing the artwork collections working with security firms, framing photography, documentation… and the list goes on… All of these aspects of collection management are targeted at preserving and optimising the value of a collection. I often, actually compare owning art, and especially making a new acquisition, to… I liken it to bringing a new born baby home from the hospital. There’s a lot of excitement and everybody wants to share this wonderful news, but when a new artwork comes into a home or a collection, this wonderful moment also comes with a huge responsibility. And ensuring the safety of that artwork and the broader collection is exceptionally important and often is overlooked. For example, you know, direct sunlight where is the artwork hanging; is it too close to fireplaces, moisture…? And the management of the collection starts from the very beginning of the acquisition, even when undertaking the due diligence prior to making an acquisition, all the way through the complete collecting lifestyle to when a collector is looking to sell one piece of the entire collection - but that's something we can talk about later on - but there are a number of aspects that collectors often overlook in the excitement an in the passion of collecting, and that's what we're brought in to do.

Laurent Issaurat: Thank you. At a time of increasing digitalization of the art world, do you have an opinion on the online sharing of a collection?

Viola Raikhel-BolotWe always tend to take a very conservative perspective. We always want to make sure that our clients do the same too and try to mitigate any risk by exposing their collection online too much… There are  an extraordinary number of platforms these days that allow you to share and show your collection online, some are safer than others. However there is always a risk especially with social media as soon as you do expose an artwork online, that is out there for the world to see. And so one must take the same consideration about sharing their collection as they would any sensitive information. At 1858Ltd Art Advisory we help our clients at very critical moments in their collection such as in the buying, selling, and we put specific strategies in place to minimise that specific circulation of artwork on the Internet, trying to minimise any unwanted attention for the collection, and protecting our clients (anonimity and the anonymity and the location of their collection. Now if this is something that they wish to share with the world of course there more than welcome to but we just provide all of the necessary advice and to make them aware of ways to avoid any unnecessary attention.

Laurent Issaurat: Regarding the way one wants to show their works, is lending a collection or lending works to museum a good idea or is it risky to lend works of art to a museum, for instance?

Viola Raikhel-BolotWe’re very big supporters of lending to museums. Museums actually survive and thrive on loans, and travelling exhibitions, and exchanges. So we’re very big supporters of that. But aside from it benefiting to museums and benefitting to the public attending the museum, it is also exceptionally beneficial to any collection to have an artwork exhibited in a museum, documented and shared with the public. We work with a number of collectors in exhibiting their collections and learning their collections. It can be an incredibly beneficial strategic move for a collector. And some of the greatest collections will make sure that they have their items from their collection shared and viewed in exhibitions around the world.

Laurent Issaurat: Viola, are there any other pieces of advice you would give to collectors who would like to maintain or even improve the value of their collection?

Viola Raikhel-Bolot: Most definitely, Laurent, very good question. When was the last time your collection was valued is really the first place we start, especially if it’s been a while since the collection was put together. At the time of an updated valuation, it is also very good to look at the conservation and the condition that the collection’s in, because if any of the artworks are deteriorating, for example, you don't want to let that go too long, should conservation be needed. Looking at the provenance that supports a collection: do you have a complete and full story around your collection or all of the provenance documentation in place? All of these aspects contribute to the value of a collection and it's very important to monitor these elements, on at least an annual basis. Some other questions to ask, for example, a conversation with museums: is anything in the collection worthy of being included in a museum collection, and/or in an artist's catalogue résumé? Again, some other conversations and questions that can only help to enhance the value of a collection.

Laurent Issaurat: One last question Viola, maybe a tricky one. I’d like to focus on the transmission of a collection. Are children always the best option to take over a collection?

Viola Raikhel-Bolot: Another very good question, Laurent. Look, as a mother, I would love to think that one’s children are the best option to takeover a collection and all of the passion that goes into building one. However the reality is that any major collector is faced, essentially, with two choices: to make a decision to keep the collection intact, or to sell, or to donate during their lifetime; or to look at it be coming as part of the inheritance to the next generation, becoming a legacy, but then the letter of wishes to accompany that needs to be very clear, because unfortunately, problems can arise when a collection is shared and passed down through the generations. It's very important to have this conversation during the lifetime of a collector because there are a number of options, but essentially, it requires making a decision during the lifetime or handing it over to the next generation - which comes with its own complexities. We feel very strongly that these decisions need to be made as a family and with the correct advice, as specialist advisers, we work with a number of major collections and funnily enough, when looking at inheritance, every collector’s position is quite varied.  One collector for example donated everything in his lifetime to a specific city, and obviously built the museum and filled the collection and handed it over during his lifetime; another one may choose to distribute the collection amongst the heirs… It really does depend but there definitely are right ways and wrong ways to do it and that why we think specialist advisory services are very much needed when contemplating that very precise decision.

Laurent IssauratThese are really fascinated insights you shared with us today! Thank you very much Viola. We will pursue our conversation with you Viola, to address another key-topic in the art of buying art, which deserves, a podcast of its own. Dear listeners, See you soon. As a reminder, our “The Art of Collecting” series is available on Apple Podcasts and Spotify, via our program "#PrivateTalk by Société Générale Private Banking".

 

Would you like to discuss this subject further with us?

The information contained in this audio content is provided for informational purposes only, is subject to change without notice, and is intended to provide information that may be useful in making a decision. Past performance information may be reproduced and is not a guarantee of future performance.

The price and value of investments and the income derived from them may fluctuate, both up and down. Changes in inflation, interest rates and exchange rates may adversely affect the value, price and income of investments denominated in a currency other than that of the investor. Any simulations and examples contained in this publication are provided for illustrative purposes only. This information is subject to change as a result of market fluctuations, and the information and opinions contained in this publication may change. No Societe Generale Private Banking entity undertakes to update or amend this publication, which may become obsolete after being reviewed, and will not assume any responsibility in this regard.

The offers related to the activities and financial and asset information mentioned in this audio content depend on the personal situation of each client, the legislation applicable to him and his tax residence. It is the responsibility of the potential investor to ensure with his legal and tax advisors that he complies with the legal and regulatory provisions of the jurisdiction concerned. This audio content is not intended to be played in the United States, by any U.S. tax resident, or by any person or in any jurisdiction where such playing would be restricted or illegal.

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Certain offers related to the above-mentioned activities and financial information may present various risks, imply a potential loss of the entire amount invested or even an unlimited potential loss, and therefore be reserved only for a certain category of investors, and/or be suitable only for informed investors who are eligible for these types of offers.

Prior to any subscription to an investment service, a financial product or an insurance product, depending on the case and the applicable legislation, the potential investor will be questioned by his private banker within the Societe Generale Private Banking entity of which he is a client on his knowledge, his experience in investment matters, as well as on his financial situation including his capacity to bear losses, and his investment objectives, including his risk tolerance, in order to determine with him whether he is eligible to subscribe to the financial product(s) and/or investment service(s) envisaged and whether the product(s) or investment service(s) is/are compatible with his investment profile.

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Accordingly, no entity under the control of Société Générale Private Banking can be held liable for any decision made by an investor based solely on the information contained in this audio content.

This audio content is confidential, intended exclusively for the person consulting it, and may not be communicated or made known to third parties, nor reproduced in whole or in part, without the prior written consent of the Société Générale Private Banking entity concerned.

Societe Generale Group maintains an effective administrative organization that takes all necessary measures to identify, control and manage conflicts of interest. To this end, Societe Generale Private Banking entities have put in place a conflict of interest management policy to manage and prevent conflicts of interest. For more details, Société Générale Private Banking clients can refer to the Conflict of Interest Policy available on request from their private banker.

Societe Generale Private Banking has also put in place a policy for handling complaints from its clients, which is available on request from their private banker or on the Societe Generale Private Banking website.

SPECIFIC WARNINGS BY JURISDICTION

France: Unless expressly stated otherwise, this document is published and distributed by Société Générale, a French bank authorized and supervised by the Autorité de Contrôle Prudentiel et de Résolution, located at 4, place de Budapest, CS 92459, 75436 Paris Cedex 09, under the prudential supervision of the European Central Bank ("ECB") and registered with the ORIAS as an insurance intermediary under the number 07 022 493 orias.fr Societe Generale is a French société anonyme with a capital of EUR 1 066 714 367,50 as of August 1, 2019, whose registered office is located at 29, boulevard Haussmann, 75009 Paris, and whose unique identification number is 552 120 222 R.C.S. Paris. Further details are available on request or at www.privatebanking.societegenerale.com.

Luxembourg: This document is distributed in Luxembourg by Société Générale Luxembourg, a public limited company registered with the Luxembourg Trade and Companies Register under number B 6061 and a credit institution authorized and regulated by the Commission de Surveillance du Secteur Financier ("CSSF"), under the prudential supervision of the European Central Bank ("ECB"), and whose registered office is located at 11, avenue Emile Reuter - L 2420 Luxembourg Further details are available on request or at www.societegenerale.lu. No investment decision of any kind should be made on the basis of this document alone. Société Générale Luxembourg accepts no responsibility for the accuracy or otherwise of the information contained in this document. Societe Generale Luxembourg accepts no responsibility for any actions taken by the recipient of this document solely on the basis of this document, and Societe Generale Luxembourg does not represent itself as providing any advice, in particular with respect to investment services. The opinions, views and forecasts expressed in this document (including its annexes) reflect the personal opinions of the author(s) and do not reflect the opinions of any other person or of Société Générale Luxembourg, unless otherwise indicated. This document has been prepared by Societe Generale. The CSSF has not carried out any analysis, verification or control on the content of this document.

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This document is not distributed by the entities of the Kleinwort Hambros Group that operate under the brand name "Kleinwort Hambros" in the United Kingdom (SG Kleinwort Hambros Bank Limited), Jersey and Guernsey (SG Kleinwort Hambros Bank (CI) Limited) and Gibraltar (SG Kleinwort Hambros Bank (Gibraltar) Limited) Consequently, the information communicated and any offers, activities and financial information presented do not concern these entities and may not be authorized by these entities or adapted in these territories. Further information on the activities of Societe Generale's private banking entities located in the United Kingdom, Channel Islands and Gibraltar, including additional legal and regulatory information, is available at www.kleinworthambros.com.

Laurent Issaurat