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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 : 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 - Central banks fueled pivot expectations and an end-of-year market rally

The main central banks met this week. Although they did not change their key rates, the European Central Bank (ECB) and especially the Federal Reserve System (Fed) took a more dovish stance. Markets’ rate cuts expectations for 2024 have increased, helping a sharp recovery in major equity and bond markets.

A clear pivot in the Fed's communication. Unsurprisingly, the Fed left rates at 5.25-5.5%, unchanged from late July, but surprised markets with a more dovish stance. At the press conference, Jerome Powell did not refute the markets’ rate cut expectations for the coming year. In addition, the Fed revised its forecasts for 2024, still projecting a positive growth scenario, but with core inflation revised down slightly and, more importantly, the “dot-plot” – a visual representation of members’ rate expectations over the coming years – indicating up to 75 basis points rate cuts in 2024. Markets have adjusted their expectations and are now foreseeing the first rate cut in March and up to 150 basis points of cuts for the year as a whole.

The ECB is softening its stance, but only slightly. The ECB keeps its refinancing rate at 4.5%, unchanged since mid-September but decided to move forward by six months one of the ways in which it will reduce its balance sheet. This may seem a restrictive move, but it only represents a relatively small part of its balance sheet policy. The tone of the press conference changed but was clearly much less dovish than the Fed's. Christine Lagarde did not mention as explicitly as before that the ECB has no intention of cutting rates in the next two quarters. At the same time, the bank's new forecasts assume that inflation will continue to moderate in 2024, although they do not yet take into account the November inflation figures, which surprised many to the downside. Markets now expect the ECB to cut rates by up to 100 basis points in 2024.

The Bank of England (BoE) stands out for its less dovish stance. The BoE left its rate unchanged at 5.25%, unchanged since early August. On the other hand, it maintained a rather hawkish stance, as several members of the monetary policy committee still voted for another increase (3 to 6 for stability). The committee also continues to "assess that monetary policy will need to remain restrictive for an extended period of time." The market expects up to 75 basis points of cuts in 2024.

Markets expect faster and deeper key rate cuts. 10-year government bond yields have dropped by nearly 100 basis points from their peak in mid-October to 3.9% in the United States, 3.8% in the United Kingdom and 2.6% in France. Against this backdrop, markets rallied further, both on the equity and (public and private) bond fronts. We can certainly welcome this rebound, which reinforces the good performance of our allocation since the beginning of the year. However, we must remain vigilant regarding potential inflation surprises that may continue to generate interest rate volatility in the early months of 2024.

In this week's highlights, we have chosen to focus on the US CPI and PPI inflation figures and the HCOB activity surveys in Europe:

  • The US consumer price index came in line with the consensus, at 0,1% month-on-month for the headline and 0,3% for the core. This gives a 3,1% year-over-year for the headline and 4% for the core. Lower energy prices as well as lower prices for durable goods, including used cars, are contributing to lower inflation. The weak spot of the inflation report is the reacceleration of the shelter component and some other services.  The producer price index rose by just 2% year-over-year in November. These two indicators suggest that the private consumption deflator (a measure targeted by the Fed) is close to 2%.

  • The PMI survey (HCOB) remained disappointing in the euro area, with a composite index of 47 for December, against 48 expected. As a reminder, a figure above 50 corresponds to an expansion, and below 50 corresponds to a contraction. This is the seventh consecutive month of activity contraction according to this survey. This is mainly due to the manufacturing sector, with a PMI index for the sector at 44.2 – weakness confirmed by industrial production data (decrease of 0.7% month-on-month in October after -1%, or -6.6% year-over-year). The services sector also contracted, but proved more resilient, with an index at 48.1. At the national level, the French figures are at the lowest since the end of 2020 with an index at 43.7, and Germany is holding up slightly better, with an PMI at 46.7.

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