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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 - Public finances: no more free lunch

During the Covid years, governments funding needs vastly on the back of their massive support programmes. This was in part covered by central banks’ purchase programmes. More recently, governments have been able to keep fiscal policy accommodative without wrecking their budgets thanks in large part to high inflation. Both factors are set to fade in 2024 as central banks run down their balance sheets and inflation falls, leaving governments to wrestle big deficits (and even with fiscal slippage in France and Italy) in what is an election year on both sides of the Atlantic. This leaves them with no option but to cut deficits, by slashing spending and/or raising taxes.

Public deficits remain high. Public sector deficits in the world's leading economies swelled in the Covid crisis, peaking in 2020 at 14% in the United States, 7% in the euro area and 13% in the United Kingdom. These huge financial shortfalls were only made possible by the support of central banks, which bought up stacks of government bonds: the Fed spending $3,800bn, the ECB €2,000bn and the Bank of England £430bn. But when inflation took off in late 2021 central banks stopped buying and started to run down their holdings, either by not reinvesting cash from maturing bonds, like the Fed and ECB, or by actively selling off bonds, like the BoE. Even so, by 2023 deficits remained elevated (6%, 3.5% and 4.5% of GDP, respectively). More worryingly, the 2023 budget slippages announced in France and Italy – 5.5% and 7.2% vs. 4.9% and 5.3% projected – could revive fears about the sustainability of public finances in the main developed economies.

Debt ratio falling thanks to inflation. Deficits may be high but public debt ratios have declined since 2021, mainly thanks to inflation. Inflation is bad for the economy in many ways, most notably by undermining purchasing power, but it does help the public treasury in two ways. First, in many countries, VAT and income tax receipts rise faster than spending, even when public sector salaries and benefits are indexed to inflation. Second, higher inflation means that – all else being equal – nominal GDP will grow faster, automatically reducing deficit and debt ratios to GDP. But these benefits only apply as long as interest rates - and hence debt service costs - remain under control.

No more free lunch for governments. Things have changed, however. For one thing, governments can no longer look to central banks for funding. For another, inflation has fallen, and interest rates have risen. This means governments must now rein in their deficits if they are to cut debt and keep service costs affordable. We estimate that the public sector deficit requires to stabilise their debt/GDP ratios is 3.9%%, 4.4% and 4.1%, respectively in the United States, euro area and United Kingdom. For now, bond markets are paying little attention to this issue – spreads between euro area sovereigns have narrowed slightly since the turn of the year – but a fresh bout of debt market tensions could force governments to tighten fiscal policy. How to achieve this is already a hot topic in France but this debate may not only intensify further but spread to other countries, including the US and UK once the elections are over.

In the highlights of the week, we chose to talk about inflation data and credit data in France as well as inflation and spending data in the United States: 

  • The disinflationary trend continues in France. Inflation fell from 3% in February to 2.3% in March, reflecting a sharp moderation in food inflation, stagnant prices for manufactured goods and continued disinflation in services. As for bank lending, the February data also show a further slowdown. Outstanding loans to households and businesses rose by just 0.7% year-on-year (compared with 5.4% in February 2023), illustrating the weakness of mortgages and short/medium-term business loans against a backdrop of high interest rates and tighter lending conditions. These two figures are in line with our scenario of the start of an ECB rate cut in June.

  • The US consumer deflator - the measure of inflation most closely followed by the Federal Reserve - was published in line with expectations for the month of February in underlying terms, rising by 0.3% after 0.5% in January. At the same time, personal spending grew faster than expected, increasing by 0.8% over the month, compared with the 0.5% anticipated by the consensus. Given that household consumption is the main driver of the US economy's performance, this data confirms the Fed's room for manoeuvre with regard to the start of its rate-cutting cycle.

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