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 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

 

Weekly Update - China launches its own ‘whatever it takes’ plan

China launches its own ‘whatever it takes’ plan. 
Given the persistent weakness of the property market, the Chinese authorities have just announced far-reaching measures to revive their economy. The Chinese central bank (PBOC) began by announcing rate cuts and macroprudential measures. Then, the Politburo meeting resulted in a commitment to implement ‘the necessary spending’. The financial markets welcomed these announcements, even if the long-term impact remains to be proven.
 
A difficult economic context.
First of all, the property market is still in a very poor state. Given large oversupply, the volume of sales has fallen by 50% since Covid and house prices continued to fall sharply (-10% year-on-year in July), causing financial difficulties for property developpers.

This situation has capped the post-Covid domestic recovery. Unemployment has risen and household consumption growth remains at a low, making the Politburo's target of 5% growth by 2024 difficult to achieve.

This weakening of the economy, together with a marked ageing of the population, has also led many observers to suggest that China could experience a long period of Japanese-style deflation. 

The PBOC has already cut its key rates several times, but without much impact on activity. The many calls for more radical measures seem to have been heeded (at least in part) this week, by both the PBOC and the central government:

- PBOC measures. The PBOC has again lowered its key rates, as well as the rates for households with mortgages. It has also decided to introduce macroprudential measures: reducing the downpayment on second homes, strengthening the property buy-back mechanism and creating a facility enabling financial institutions to finance their equity purchases. 
-  Politburo announcements. The central authorities have announced their intention to introduce ‘necessary spending’. This is a real signal of the government's determination, even if official details are still lacking. The media mention a stimulus plan aimed at household consumption of around 2,000 billion yuan (or 4% of GDP) between now and the end of 2025.

A positive signal for markets. China's equity markets responded very well to these announcements, gaining almost 13% in local currency over the week. This also buoyed global markets (+1.4%), particularly those in the euro area (+2.9%). The European luxury goods sector in particular wasup by more than 12% over the week.

Beyond the announcement effects, there is a lack of details on the implementation of these measures in order toassess their impact over the long term. In particular, the setting up of a “bad bank” to ‘isolate’ the bad debts weighing on the property market does not appear to be on the agenda for the time being. 

But if the signal sent out this week becomes reality, it could lead to a more sustained rebound in Chinese equity markets, which have so far been depressed by sluggish Chinese domestic demand. 

Other highlights of the week
 
In the highlights of the week, we chose to talk about Euro area activity, SNB interest rate decision as well as French interest rate spread :

  • ECB: markets expect more significant easing. In terms of business indicators, there was one bad surprise after another this week in the euro area (PMI indices well below 50 in France and Germany). The national business climate indices (Ifo in Germany) confirm this trend, although consumer confidence in France surprised with a rebound. At the same time, September's inflation figures came as a surprise, falling sharply in France and Spain (to 1.2% and 1.7% year-over-year respectively). With confirmation that inflation could rapidly fall below 2% and economic activity less favourable, the ECB could accelerate the pace of its rate cuts. The markets are expecting at least a 25 bp cut for each of the last two committees of 2024.

  • Political difficulties in France unsettle bond yields. Questions are growing about the short-term trajectory of French public finances, with upward revisions to the deficit for 2024 and questions about the stability of the new government. The 10-year bond yield at which the French government finances itself has once again diverged from that of Germany and is now higher than that of Spain and Portugal.

  • The Swiss National Bank cut rates again. The Swiss central bank (SNB) has decided to cut its key interest rates by 25 basis points to 1%. This third successive rate cut since the start of the year is mostly due to low inflation, which reached +1.1% year-over-year in August, and the strength of the Swiss franc. The SNB has indicated that it may continue to do so, particularly if the Swiss franc appreciates further.

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