Private clients Financial intermediaries

Become a client

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 - 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 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 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

 

Behavioural finance

Unknown to the wider public, behavioural finance received the highest distinction in 2017 when the Nobel Prize for Economics was awarded to one of discipline’s founding fathers, Richard Thaler.
What is it all about? Why it is important to know yourself to make good decision ?

 

Behavioural finance applies psychology to finance: it differs from classical financial theory by considering that individuals are not purely rational beings, but that they are influenced by their emotions or biased in their thinking. These biases and their impacts were demonstrated through experiments.

By revealing the likely existence of biases in every financial decision, behavioural finance aims to allow each person to make informed financial decisions, while being aware of the factors that might influence them. These factors exist in each one of us, with a varying intensity according to our personality and habits.

There are many instances of behavioural biases in everyday life that can easily be applied to finance: “Between two identical restaurants (same menu, price and décor), one empty the other full, which one would you choose? And what if your best friend advised the first one? The same applies to financial products, one of which is very successful and the other recommended by somebody you trust entirely (family member, friend, …); which one would you choose?”

Another example drawn from research conducted in the field of finance in 1988 by Samuelson & Zeckhauser is the “status quo bias” on wealth allocation decisions. In the case of an inheritance, the initial allocation has a decisive influence even if it does not comply with the heir’s profile and/or interests.

Behavioural biases influence the risk / return ratio which is involved in so many financial decisions:

  • by their influence on the perception or acceptance of risk,
  • by their impact on the return that is hoped for or required,
  • or by the relationship between these two factors that creates a distortion in the choices.
“Prospect theory” demonstrated by A. Tversky and D. Kahneman

Asymmetrical relationship between the pleasure created by a financial gain and the pain of a loss2.

The various behavioural biases

 

Behavioural finance is such a vast subject that it is not easy to offer a segmentation of the various biases. Any behavioural element can be taken into account: reasoning mistakes, but also individual or collective emotions. Four categories are nevertheless often mentioned :

Cognitive : Forms of reasoning that deviate from logical or rational thinking. “Mental anchoring” for instance is the use of mental references that block reasoning: the seller’s starting price in a negotiation for instance, or the price at which a security is bought (which one will be reluctant to sell at a loss even when the environment has radically changed)..

Emotional : A set of emotions that introduce a bias in the decision process. One could mention the “House money” bias (or “discretionary money”), which refers to the lesser caution and attention paid to the management of a specific aspect of one’s wealth or revenues. Funds from an inheritance or capital gains will not be managed in the same way as a salary for instance.

Decision : Automatic, intuitive and quick mental operations that create bias in decision-making. One of the best-known biases is called “disposition effect” and is defined as the non-linear and opposing perception of gains and losses. This leads an investor to keep assets (stocks, funds, real estate, etc.) that have dropped in value while selling too quickly assets whose price have increased.

Social : The influence of our interactions with others such as herd behaviour, cultural biases or rumours. This also covers the “information cascade” (illustrated by the restaurant example above) in which an individual chooses a course of action based on the actions of others without taking into account his or her own judgement.

Biases can be both negative and positive (“optimism”, “over-confidence”, etc.) like the “attribution bias” which attributes a good performance to one’s own skills and blames external and uncontrolled factors for a disappointing one.

Financial markets offer an excellent opportunity to become aware of one’s own biases, but it is an expensive use of the markets, as George Goodman3 wrote in 1968: “If you don’t know who you are, the stock market is a very expensive place to find out !

Behavioural finance is a debated subject, which is still struggling to demonstrate its contribution in terms of individual performance. It offers nevertheless the possibility, if a person is aware of his or her own biases, to erect safeguards before making financial decisions.

(1) Source: “Status Quo Bias in Decision Marking”, William Samuelson (Boston University) & Richard Zeckhauser (Harvard university); published in the Journal of Risk and Uncertainty; March 1988, Volume 1. - (2) Source: « Advances in Prospect Theory: Cumulative Representation of Uncertainty”, Amos Tversky (Stanford University) & Daniel Kahneman (University of California at Berkeley); published in the Journal of Risk and Uncertainty; 1992, Volume 5 - (3) “The money game” by George J W Goodman (under the pen name ”Adam Smith”) published by Vintage in August 1976.