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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 : ch-dataprotection@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 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

 

Behavioural finance - When numbers count: 12/31/23 = 123 123!

The year 2023 ended on a fun note thanks to some eye-catching numbers. Did you notice that the last date of the year — at least in the American format — was 12/31/23, i.e. 123 123? With 2023 behind us, we take a look at how figures— and especially past figures or “anchors” — can influence our financial decisions.

Social security number vs. bank card number

Just a few weeks ago, many of us were still in and out of shops buying Christmas gifts and supplies. A study conducted in 2003(1) asked students to estimate the price of ordinary consumer products (computer accessories, bottles of wine, luxury chocolates, and books). The first question they were asked set out to assess their willingness to buy the products (without knowing the market value) for a dollar figure equal to the last two digits of their social security number. For the second question, the students were asked the maximum price they would be willing to pay for each product. It emerged that students with above-median social security numbers agreed to a market value 57% to 107% higher than that agreed to by students with below-median social security numbers. Even more striking, was that there was a factor difference of 3 between the quartile of students with the highest social security numbers and the quartile of students with the lowest social security numbers. Depending on the quartile, the price of a bottle wine, for example, ranged between $8.64 and $27.91!

The experiment perfectly illustrates what is known as the “anchoring effect”: the tendency to take a reference value, or “anchor”, into account when making an estimate. Research has also demonstrated the existence of this bias in real estate. A paper published in 1987(2) highlights the influence of the level of the listing price (higher or lower than the true value) on the independent estimates made by a sample of real estate experts and students. Both groups’ estimates were biased, with gaps of between 11% and 14% between the experts and the students (depending on the listing price).

The anchoring bias can influence our behaviour in more adverse and unexpected ways, sometimes with very long-lasting consequences. More recent research(3) carried out on data from 2015 to 2020 demonstrates that an investor’s first investment on the stock market conditions subsequent investments quite significantly, and for many years.

Multiple anchors to account for unrealised capital loss, economic scenarios, and market updates

The anchoring bias has a major influence on how we manage our personal finances, and in more than one way.

First, it could delay the selling off of assets with unrealised capital loss. The initial investment amount (or entry value) acts as an anchor, below which it is hard to sell!  The anchor can include an entry price (i.e. the level at which unrealised capital losses can be erased), as well as the historical average value of the asset since the time of the investment. It can also include the record peak since the time of investment (maximum share price, for instance). By refusing to sell an asset, the investor overlooks other investment vehicles which may offer better prospects. Rather than latching onto these anchors, and for the wrong reasons, we must break free of them and not let opportunities pass us by.

Second, and in the interest of keeping abreast with current events, bear in mind that conventional economic assumptions can also be anchors likely to affect our decision-making. Thinking about asset allocation in terms of zero inflation and low-to-negative interest rates will lead to less than optimal decisions, as we have not fully grasped our new economic environment. In other words, we must distance ourselves from conventional thinking that dictates that a low gross yield could still be a source of growth net of inflation words —quite possibly a challenge we currently face. Instead, we need to adjust the risk/return ratio just as quickly as conditions on the market change.

Finally, the anchoring bias goes beyond numbers. It is that first impression we struggle to move away from by, for example, giving due consideration to new information. Its impact on financial management is significant: it reduces our ability to change our thinking on an investment or asset allocation, even in the event of overwhelmingly positive or negative news.

***

On a final note, next time you go shopping… avoid looking at your social security number!

 


(1) "Coherent Arbitrariness": Stable Demand Curves Without Stable Preferences”, G. Loewenstein, D. Ariely, D. Prelec, 2003
(2) “Experts, Amateurs, and Real Estate: An Anchoring-and Adjustment Perspective on Property Pricing Decisions”, G. Northcraft et M. Neale
tzkowitz, Jennifer; Itzkowitz, Jesse; Schwartz, Andrew (2023). "Start Small and Stay Small: Anchoring in App-Based Investing". T
(3) “Start Small and Stay Small: Anchoring in App-Based Investing”, Jennifer Itzkowitz, Jesse Itzkowitz, A. Schwartz, 2023


 

GENERAL WARNING:

Societe Generale Private Banking is the Societe Generale Group business line operating through its registered office within Societe Generale S.A. and departments, branches or subsidiaries, located in the territories mentioned below, acting under the brand name “Société Générale Private Banking” and distributors of this document.

This document, of an advertising nature, has no contractual value. Its content is not intended to provide an investment service, it does not constitute investment advice or a personalised recommendation on a financial product, or a personalised advice or recommendation on insurance, or a solicitation of any kind, legal, accounting or tax advice from any entity reporting to Société Générale Private Banking.

The information contained is for information purposes only, may be modified without prior notice, and is intended to communicate information that may be useful for decision-making. Any information on past performance reproduced does not guarantee future performance.

The private bankers of the Société Générale Private Banking entities are available to potential investors to provide them with more information on the variations, within the Société Générale Private Banking entity concerned, the theme presented in this document.
This document is confidential, intended exclusively for the person who consults it, and may not be communicated or disclosed to third parties, nor reproduced in whole or in part, without the prior written consent of the Société Générale Private Banking entity concerned.

No entity reporting to Société Générale Private Banking may under any circumstances be held liable for any decision taken by an investor based solely on the information contained in this document.

The Societe Generale Group maintains an effective administrative organisation taking 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, Societe Generale 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 made by its clients, available upon request from their private banker or on the Societe Generale Private Banking website (www.privatebanking.societegenerale.com).

SPECIFIC WARNINGS BY JURISDICTION 

France: Unless expressly stated otherwise, this document is published and distributed by Société Générale, a French bank authorised and supervised by the Autorité de Contrôle Prudentiel et de Résolution, 4, place de Budapest, CS 92459, 75436 Paris Cedex 09, under the prudential supervision of the European Central Bank (“ECB”) and registered with ORIAS as an insurance intermediary under number 07 022 493 orias.fr. Societe Generale is a French limited company with capital of €1,010,261,206.25 at 1 February 2023, with its registered office located at 29 boulevard Haussmann, 75009 Paris, and with a unique identification number of 552 120 222 R.C.S. Paris. More 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 an authorised credit institution governed by the Commission de Surveillance du Secteur Financier (“CSSF”), under the prudential supervision of the European Central Bank (“ECB”), whose registered office is located at 11 avenue Émile Reuter – L 2420 Luxembourg.  More details are available on request or at www.societegenerale.lu. No investment decision of any kind could result from reading this document alone. Société Générale Luxembourg accepts no responsibility for the accuracy or other characteristics of the information contained in this document. Societe Generale Luxembourg accepts no responsibility for the actions taken by the addressee of this document solely on the basis of this document, and Societe Generale Luxembourg does not present itself as providing advice, in particular as regards investment services. The opinions, views and forecasts expressed in this document (including its annexes) reflect the personal opinions of the author/authors and do not reflect the opinions of other persons or of Société Générale Luxembourg, unless otherwise stated. This document was prepared by Société Générale.  The CSSF has not carried out any analysis, verification or control over 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, governed by the Autorité de Contrôle Prudentiel et de Résolution and the Commission de Contrôle des Activités Financiers. Financial products marketed in Monaco may be reserved to qualified investors in accordance with the provisions of Law No. 1.339 of 07/09/2007 and Sovereign Order No. 1.285 of 10/09/2007.  More details are available on request or at www.privatebanking.societegenerale.com.

Switzerland: This document may constitute advertising within the meaning of the Financial Services Act (“FinSA”). It is distributed in Switzerland by SOCIETE GENERALE Private Banking (Switzerland) SA (“SGPBS” or the “Bank”), whose head office is located at rue du Rhône 8, CH-1204 Geneva. SGPBS is a bank authorised by the Swiss Financial Market Supervisory Authority (FINMA). This document cannot be considered as investment advice or recommendation by SGPBS. The Bank recommends obtaining professional advice before acting or not acting on the basis of this document and accepts no responsibility for the content of this document. Financial instruments, including in particular units of collective investment schemes and structured products, may only be offered in accordance with FinSA. Further information is available on request from SGPBS or at www.privatebanking.societegenerale.com.

This document is not distributed by SG Kleinwort Hambros Bank Limited in the United Kingdom or by its branches in Jersey, Guernsey and Gibraltar acting together under the brand name “Kleinwort Hambros”. Consequently, the information provided and any offers, activities and financial and wealth information presented do not concern these entities and may not be authorised by these entities or adapted in these territories. Further information on the activities of Societe Generale’s private banking entities located in the territories of the United Kingdom, the Channel Islands and Gibraltar, including additional legal and regulatory information, are available at www.kleinworthambros.com.

Édouard Camblain Head of strategic projects & development