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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 53 43 87 00 (9am - 6pm)
Luxembourg: +352 47 93 11 1 (8:30am - 5:30pm)
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 us 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 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 : sgpb-gdpr.ch@socgen.com.

You need to make a claim?

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 of its receipt 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 CS 151

75 422 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 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 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 #6: The art of protecting

Discover our "The Art of Collecting" podcasts series, which analyzes the issues related to the ownership and management of works of art or collectibles.
Play on Spotify
Play on Apple Podcasts

Full Script:

 

Laurent Issaurat: Hello, my name is Laurent Issaurat, Head of Art Banking services at Societe Generale Private Banking. I am very pleased to welcome you to our podcast series “The Art of Collecting” that explores key-topics relating to the ownership and management of art and collectibles. Today we will focus on the financial protection of these assets through insurance solutions. I’m very pleased to welcome Rémi Béguin, Chairman of Patrim One, an international brokerage company that specialises in insurance solutions for high and ultra-high net worth individuals. Hello Rémi, welcome! 

Rémi Béguin: Hello Laurent, thank you for receiving me.

Laurent Issaurat: My pleasure! I would like to start with a very basic question: what sort of assets does the word “collectibles” stand for?

Rémi Béguin: That’s a term that everyone defines differently. For me, it covers all “items” that can be assigned a value and, and given what they represent, insured to limit or prevent any losses in the event of their partial or complete destruction. It can be interpreted broadly and applied to more than just artworks like paintings or sculptures. It should encompass all extraordinary assets that can constitute someone's property, such as wine, vintage cars, period furniture, jewellery sets, collectible clocks, luxury leather goods and haute couture clothing. In some cases it may refer to items grouped into real “collections”. And in others it may just refer to one or more items that individually are valued highly enough to warrant financial protection.

Laurent Issaurat: Thank you very much Rémi for this very broad definition of collectibles. Based on your experience, how would you rate people’s average insurance coverage; are collectors, generally speaking, adequately insured?

Rémi Béguin: As strange as it may seem, and while trying not to paint with too broad a brush, that depends entirely on where they live and how the local culture approaches risk management. For example, people from countries like such as Spain, Italy and France have a much more fatalistic approach, and often don't take action until after a loss is incurred. Meanwhile, people from English-speaking countries make more of an effort to control life’s ups and downs. A collector's prejudices can also lead to them being under-insured(1) or having no insurance at all. Some believe their coverage is good but haven’t analysed the restrictions on their contracts. Others think that getting the right coverage will be complicated due to the protective and preventative measures required, which could be onerous, and that, in addition to having to provide information on the assets, getting them valued can be difficult. This kind of faulty reasoning is why too many collections in France have very poor coverage. And unfortunately people only realize the truth once something bad happens.

Laurent Issaurat: Thank you very much Rémi, that is quite fascinating to hear, all these cultural differences, when it comes to insuring, insurance of one’s assets. What risks should be covered through a robust insurance policy, in your mind?

Rémi Béguin: The idea is to have a contract with a very broad scope of application. The best solution would be to get coverage that protects against all risks, not just identified risks such as fire, extreme weather, water damage, theft or vandalism. Wording that covers everything that isn’t specifically excluded will help collectors deal with the unexpected by offering a contract with a much broader scope of application.

Laurent Issaurat: Excellent. When people talk about art, they automatically think of the risk of theft. Is that the main risk?

Rémi Béguin: No. The biggest risk is fire, given that fires can occur even in very well-maintained spaces. Negligence or short circuits in environments with an ever-growing number of electrical devices could be the cause, or the fire could spread from a neighbour's property. Water damage is also something to consider before worrying about theft. It's another major risk, especially if you live in an apartment. Theft is more of a risk for certain types of works, such as bronzes, watches, jewellery, and haute couture clothing. Since it is associated with vandalism, it cannot reasonably be dismissed. In closing, I'd like to add that, for sculptures, breakage may be the main risk depending on the material used.

Laurent Issaurat: This is very clear, thank you very much again Rémi. Do all insurance companies offer similar solutions? Or can it be said that there are some real leaders who stand out in your sector?

Rémi Béguin: No, Laurent this is a niche market, so not all insurance companies are interested. Only a few companies have been active in the market for many years, and have very clear positions, great ambition and a well-defined identity in this field. 

Laurent Issaurat: Based on your professional experience, that you filled over the years, what advice do you have for people who want to protect their assets? What would be the first steps and the right questions one should ask?

Rémi Béguin: Probably the first step, I use to say, is talk to a specialist broker that will be there to support collectors at every stage of the process.  First, they’ll help define how much coverage is needed, then set up a tailored solution for the declared or agreed value(2), which takes all of the collection’s unique characteristics into account. The insurance consultant identifies the risks related to the collection, analyses them and then manages them with a customised contract. If any damage occurs, the insurance consultant will also know how to get appropriate compensation and will work with experts to provide good advice on protecting and restoring items or even study appropriate prevention and protection solutions.

Laurent Issaurat: Thank you, Rémi. In practice, items and collectibles can be located in different properties, sometimes that are spread in different countries, or can even travel from one point to another, for instance when they are lent to a museum… Does one need to contract several insurance products to cover these different types of risks?

Rémi Béguin: Effectively insuring any valuable object that will be transported from one place to another is a must. In fact, moving the piece entails the risk of damage due to being handled, whether removing the piece from its initial position, transporting it, or setting it up at its destination. Worldwide coverage that considers all situations can be applied so that no guarantees are broken. Guarantees will play a role during the stages of transport, storage, loan for an exhibit or even restoration. Items could therefore be guaranteed at different addresses as soon as coverage levels are uniform. Once again, that's the reason people need a specific contract that takes all requirements into account.

Laurent Issaurat: Thank you again Rémi. Coming back to practical considerations, collections tend to change over time. Some assets may be sold, others may be acquired, on an on-going basis. Is this something that insurance policies can really deal with?

Rémi Béguin: Yes, of course. New acquisitions can be automatically included in existing coverage with a set time frame for settling the situation. The valuations of insured objects must also be regularly updated to include changes in the markets. To do so, we call upon recognized experts. These updates are important for a collection’s overall administration, but also from the perspective of insurance. They are necessary to get the best compensation if an event arises.

Laurent Issaurat: Dear Rémi, I would like to thank you warm-heartedly for your so valuable and so clear insights to the art of insuring collectibles. Dear listeners, I would like to thank you as well for your attention. I’ll see you next time for our last episode in this series, which covers the next step in the life of an artwork or collectible: transfers and donations.  I hope you have found this podcast instructive and useful.  Our series “The Art of Collecting Art” is available on Apple Podcasts and Spotify via our programme “#PrivateTalk by Société Générale Private Banking”.

 


(1) poorly set up insurance that doesn’t effectively protect against the risks incurred.

(2)  value for each insured object as previously determined by agreement between the insured and the insurer.

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.

The offers related to the activities and financial and wealth information presented may not be adapted or authorized within all Société Générale Private Banking entities. In addition, access to some of these offers is subject to conditions of eligibility.

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.

The potential investor must also (i) take note of all the information contained in the detailed documentation of the service or product envisaged (document entitled "key information for the investor", prospectus, regulations, articles of association, document entitled "key information for the investor", term sheet, information notice, contractual terms and conditions, etc.), in particular those relating to the associated risks; and (ii) consult its legal and tax advisors to assess the legal consequences and tax treatment of the product or service envisaged. It is reminded that the subscription to an investment service, a financial product or an insurance product may have tax consequences and Société Générale Private Banking does not provide tax advice. His private banker will also be available to provide further information, to determine with him whether he is eligible for the product or service under consideration, which may be subject to conditions, and whether it meets his needs.

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.

Monaco: This document is distributed in Monaco by Société Générale Private Banking (Monaco) S.A.M., located at 11 avenue de Grande Bretagne, 98000 Monaco, Principality of Monaco, regulated by the Autorité de Contrôle Prudentiel et de Résolution and the Commission de Contrôle des Activités Financières. Financial products marketed in Monaco may be reserved for qualified investors in accordance with the provisions of Law n° 1.339 of 07/09/2007 and Sovereign Order n° 1. 285 of 10/09/2007. Further details are available on request or at www.privatebanking.societegenerale.com.

Switzerland: This document is distributed in Switzerland by SOCIETE GENERALE Private Banking (Suisse) SA ("SGPBS"), headquartered at rue du Rhône 8, CH-1204 Geneva, Switzerland. SGPBS is a bank authorized by the Swiss Financial Market Supervisory Authority ("FINMA"). Collective investments and structured products may only be offered in accordance with the Swiss Federal Act on Collective Investment Schemes (Collective Investment Schemes Act, CISA) of June 23, 2006, and the Guidelines of the Swiss Bankers Association (SBA) on Information for Investors in Structured Products. Further details are available on request from SGPBS or at www.privatebanking.societegenerale.com.

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