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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 Julien Garnier, 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

Models and financial arrangements: the charms and sirens of "Do-It-Yourself"

Behavioural finance is defined by the application of psychology to finance: it differs from classical financial theory by considering individuals not as purely rational beings, but influenced by their emotions or by reasoning biases.

With the capricious fall weather, some young and not so young people will undoubtedly return to indoor hobbies such as model making. Although seemingly harmless, this type of activity gives the opportunity to reflect on the management of our personal finances. In this field too, the "do-it-yourself" dimension can play a role in the way we value things. Let's discover this bias that we call the "effort heuristic"...

Effort is priceless!

What a pleasure, after long hours of work, to be able to admire one’s finished model. This one has no price! Indeed, it is difficult to imagine asking a model making enthusiast how much they would pay for their work, as they gets their satisfaction from the creation and not from any income.

On this topic, an interesting experiment(1) was attempted in 2011 by three researchers (M. Norton, D. Mochon and D. Ariely). They split the study participants into two groups: members of the first group were given a storage box that they had to assemble while those in the second group were given the same box but which had already been assembled by a third party. In order to keep the finished product, participants were asked to propose a purchase price. The results showed that the members of the first group were willing to give 63% more than those who had received a box already assembled! The researchers also looked at the LEGO® blocks, a common indoor toy for children, and grouped the participants into pairs. They received either two identical pre-built objects, or two objects to build and keep, or two objects to build and destroy. As a result, the creators estimate the price of their own object (0. 84$) twice as much as the same object made by his partner (0.42$). If they destroyed it in the meantime, the difference is less (0.14$) and if this object had been given to them already built, the difference is almost nil (0.06$)!

It is easy to understand the interest in the Do-It-Yourself trend, both from consumers and companies. As far back as the 1950s, the story goes(2) that in order to increase sales of its Betty Croker brand of instant cake mixes, the General Mills company followed an astonishing piece of advice from the psychologist Ernest Dichter: modify the recipe so that an egg had to be added to the mix and the cook had the impression of making "your own" pastry! By adding a little complexity, consumers felt more invested in the recipe... and sales took off!

"Do-it-yourself" applied to one's finances: a risk of immobility

The above experiments highlight the value placed on what results from our own involvement, our efforts. This is known as the effort heuristic and is referred to by some as the "IKEA® effect", named after the famous do-it-yourself furniture seller. This tendency should not be confused with the endowment effect, in which individuals place more value on a good or service when it is owned.

Several explanations have been proposed for the attraction of Do-It-Yourself products. For example, successfully assembling a product confers a sense of competence, or a sense of saving money and making smart consumer choices. In any case, there is a relationship between perceived effort and the value placed on the consumer good.

Personal finance is no exception to this trend: there is a great danger of placing too much value on the current situation if you have had to put in the effort, for example, to spend time selecting stocks or building an initial asset allocation with your banker or, possibly more time-consuming, on your own. The more you have been involved in past decisions, the more reluctant you are to change, the more likely you are to succumb to the "charms" of not changing, even if the lack of change is detrimental to your finances. So stay alert, regardless of your past efforts!

 

This article was not pre-written... so I'm attached to it, but your comments are always welcome!

 


(1) The IKEA effect: When labor leads to love, Michael I. Norton, Daniel Mochon, (2011)

(2) Something from the Oven: Reinventing Dinner in 1950s America, New York: Viking, Shapiro, Laura (2004)

WARNING

This document is an advertisement and has no contractual value. Its content is not intended to provide an investment service, nor does it constitute investment advice or a personalised recommendation on a financial product, nor insurance advice or a personalised recommendation, nor a solicitation of any kind, nor legal, accounting or tax advice from any entity under the responsibility of Société Générale Private Banking.

The information contained herein is provided for information 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 that may be reproduced is not a guarantee of future performance.

Before subscribing to an investment service, financial product or insurance product, the potential investor (i) must read all the information contained in the detailed documentation for the service or product in question (prospectus, regulations, articles of association, key investor information document, term sheet, information notice, contractual terms and conditions, etc.), in particular those relating to the associated risks; and (ii)consult his legal and tax advisors to assess the legal consequences and tax treatment of the product or service being considered. His or her private banker is also available to provide further information, to determine with him or her whether he or she is eligible for the product or service under consideration, which may be subject to conditions, and whether it meets his or her needs. Accordingly, no entity within Société Générale Private Banking can be held responsible for any decision taken by an investor solely on the basis of the information contained in this document.

This document is confidential, intended exclusively for the person to whom it is given, and may not be communicated or brought to the attention of third parties, nor may it be reproduced in whole or in part, without the prior written consent of Société Générale Private Banking. For more information, click here.

Édouard Camblain Head of strategic projects & development