Private clients Financial intermediaries

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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 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 super yacht market - Expert Views

One generally speaks of super yacht to designate professionally crewed motor or sailing yachts ranging in length from 40 metres to over 180 metres. The market for these vessels is not well known.

The super yacht market - Expert Views

A super yacht or mega yacht is a large, luxurious pleasure craft. Such a vessel can be used privately by its owner or rented out, in particular to cover maintenance costs. How to acquire and finance a super yacht? What are the environmental issues? What specific support does Societe Generale Private Banking offer? Insights from our expert Anthony Buneta, Head of Super Yacht Financing at Societe Generale Private Banking Monaco.

Full script:

A super yacht or mega yacht is a large and luxurious pleasure vessel. There is no official or agreed-upon definitions for such yachts, but these terms are regularly used to describe professionally crewed motor or sailing yachts ranging from 40 to more than 180 metres in length. The super-yacht market is not well known and is generally the preserve of a limited number of ultra-rich individuals seeking to spend unforgettable relaxing moments with their family or friends in an exclusive setting combining intimacy, comfort and the possibility of travelling without constraints.

There are two ways of using super yachts, and each has its own legal and fiscal consequences for the yacht’s owner:

  • Private use, where the owner personally enjoys and benefits from their yacht.

  • “Business” use, where the owner charters out the yacht, notably to mitigate running costs.

The cost of a luxury yacht depends on its equipment and configuration, its amenities and its engine, for example. The reputation and expertise of the shipyard also has an impact on the price. A luxury yacht budget can be in the tens of millions of euros, and its running costs (maintenance, crew, insurance, fuel, port fees) total around 5 to 10 % of the purchase price every year. The assistance of technical, legal and financial experts is therefore essential for a project such as this at every step of the acquisition or construction process. It is both an investment project and a passion for our clients, but it needs to be a sound purchasing decision.

How to acquire and finance a super yacht?

The acquisition of a super yacht is a major project. The financing of this specialised asset must be carried out under attractive conditions ultimately enabling you to optimise your debt/equity ratio.

There are various types of financing:

  • Financing from the very first steps of the yacht’s construction

  • Financing of a new yacht on delivery or of a second-hand yacht

  • Refinancing of the super yacht’s market value, which allows the owner to borrow a certain amount in agreement with the bank and thus to generate liquidity, based on an appraisal of the yacht’s value and taking into consideration its depreciation over time.

The possible loan structure consists in taking out an amortising loan with a balloon payment (larger final reimbursement payment), in euros or US dollars, with fixed or floating interest rates. The support of the bank and its teams of experts is essential for the project to go smoothly: for example, the presence of the purchaser’s bank at the shipyard, from the yacht’s construction through to its delivery, will ensure that each key step is properly followed. Indeed, the future owner will have to make sure they are able to benefit from the expertise and supervision of a dedicated team with and extensive track record in financing on the super-yacht market. Maritime industry experts will also have to be commissioned by the bank in agreement with the client to supervise each step of the acquisition and construction process. This includes professionals intervening on technical aspects, legal and tax experts as well as lawyers. Lastly, rigorous monitoring is undertaken by the bank throughout the duration of the financing, notably via a systematic analysis of the yacht’s insurance policies and the correct renewal of its administrative documents, but also to control its proper maintenance and its market value.

Super yachts and the environment: a key issue for the future

Today, the maritime industry – and notably shipping (i.e. commercial maritime transport activity) – are controversial sectors because of the high social and environmental stakes throughout the yacht’s life cycle:

  • During the construction phase, with the shipyard’s environmental impacts taking into account the supply chain of the materials used (wood, plastic, etc.)

  • During the yacht’s use, of course, with the risk of marine pollution and the emissions of greenhouse gases from yachts with a combustion engine.

  • And, lastly, during its destruction phase at the end of its life.

Aware of the reputational risk of these social and environmental aspects, the luxury yachting sector has anticipated clients’ demands and given itself the means to limit its negative impacts, helped by an increasingly stringent regulatory framework. We could, for example, mention the energy efficiency design index, better known as EEDI, granted during the design and delivery phase, which required ships commissioned after 1 January 2013 to meet certain requirements in terms of using less polluting materials and consuming less fuel. Another example is the ship energy efficiency management plan, or SEEMP, which provides guidelines to help improve ships’ efficiency during their lives, notably with regard to reducing their environmental impact and running costs. As well as complying with applicable regulations, many projects currently underway or already delivered prefer increasingly innovative and ecologically responsible designs or engines with less polluting means of propulsion, enabling some yachts to use 30% less fuel than a yacht with a conventional engine of a similar size. Thanks to technical developments, yacht’s roofs almost all now have solar panels that meet a substantial portion of the boat’s energy needs. Lastly, the increasingly popular fully electric or hybrid boat market is likely to see rapid growth due to future restrictive measures, notably with regard to greenhouse gas emissions.

Societe Generale Private Banking’s support

The Societe Generale Private Banking super-yacht financing team in Monaco can intercede as soon as you start thinking about your construction project. Indeed, we have been working with numerous yachting industry experts for more than a decade, and can thus accompany you and put you in contact with professionals who have acknowledged skills in this field, as long as your yacht is at least 40 metres in length and built in European shipyards recognised on the market.  If you are interested and would like more information, please feel free to contact Societe Generale Private Banking.

Would you like to discuss this subject further with us?

Anthony Buneta Mega-yacht and Business Jet Financing Societe Generale Private Banking Monaco