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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 - The ECB can cut rates before (or without) the Fed

Yesterday's ECB meeting brought no big surprises. The Bank left rates unchanged but confirmed the conditions to cut rates were almost met. Ruling out last minute hitches, the first rate cut should come in June - whether or not the Fed cuts this summer. However, the ECB is likely to tread carefully, cutting rates just three times in 2024, to make sure inflation is on a sustainable move towards its target while the economy has avoided recession and the labour market remains tight. A weaker euro could also reduce the need for rate cuts.
 
Heading for a June cut. ECB president Christine Lagarde didn’t want to pre-commit on the decision for the next meeting but made it clear a June cut was on the cards. This would depend on greater confidence that inflation is heading back to 2%, based on future data and the next ECB forecasts due out in June. Beyond June, the ECB would not pre-commit either. Ms. Lagarde repeated that the ECB will remain data-dependent. The Bank also stressed that “The Governing Council’s future decisions will ensure that its policy rates will be set at sufficiently restrictive levels for as long as necessary.”
 
Three cuts in 2024. In our view, the ECB is set to cut rates no more than three times in 2024 - markets are pricing in three to four cuts. There are many arguments for a modest pace of rate cuts.
 

  • No recession. Unlike previous cycles of rate cuts in 2001, 2008 and 2011, the euro area economy is not facing a sharp contraction. Leading indicators have pick up recently, pointing to a rebound in the second half of the year. So, in easing its monetary policy the ECB, like the Fed and the Bank of England, will not be seeking to avoid or mitigate a recession but rather to shift monetary policy back into a more normal gear now that inflation is slowing.

  • Caution on inflation. The ECB will want to make sure the easing in inflation is well entrenched. However, looking at the United States (see our comment on US inflation below) or even Spain (where inflation has spiked from 1.9% year-on-year last June to 3.2% this March) may warrant caution. All the more so as some measures of underlying inflation have ticked up lately, including the super-core inflation rate which strips out non-cyclical price categories.

  • Weak productivity. Wage growth may have slowed but it is still high, amid scant signs of improving productivity. This effectively drives up unit wage costs and hence medium-term risks to inflation. That said, the ECB notes that “companies are absorbing part of the increase in labour costs through their profit margins.” 

  • The euro question. Besides economic, geopolitical and inflation considerations, the ECB also needs to take into account the euro exchange rate. Given recent uncertainty about the Fed's monetary policy, the ECB will want to avoid any overly sharp drop in the euro and hence it will want to cut rates at a moderate pace. That said, a modest fall in the euro would not necessarily be seen as bad news by the ECB, as it would be a back route to looser monetary conditions.

In the highlights of the week, we chose to talk about inflation data in the United States as well as in China
 

  • US inflation rebounded for the third month in a row in March, coming in at 3.5% yoy after 3.2% and against 3.4% expected by the consensus. Monthly inflation also remained strong, rising by 0.4% for the second month in a row. Core inflation remained at February’s level of 3.8% yoy, whereas the market was expecting a slowdown to 3.7%. The main drivers of inflation continue to be the prices of services, driven by both housing and non-housing services (notably car and home insurance premiums). Conversely, the producer price index came in below expectations, rising by 0.2% over the month, compared with the 0.3% expected after February’s 0.6% rise, pointing to a moderate rise in the PCE. Expectations of a Fed rate cut fell sharply over the week, with the probability of a rate cut in June dropping from around 50% to 22%, compared with 70% in March.

  • In contrast to the United States, inflation in China remains low and well below expectations, at 0.1% year-over-year in March against expectations of 0.4%, after a rebound to 0.7% linked to the Lunar New Year the previous month. Meanwhile, the producer price index remained in deflation (-2.8% year-on-year) for the 18th consecutive month. These data illustrate the weakness of domestic demand in China, while foreign trade data also disappointed (exports down 7.5% year-on-year in March).

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