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

 

Weekly Update - Beware of Greeks bearing (bond) gifts

Greek government bond (GGB) yields fell this week below 1%, reaching the lowest level on record. Only eight years ago, on February 14th 2012, GGBs yielded 33%. However, Greek government debt remains an enormous burden on the economy – at 180% of gross domestic product (GDP), its debt is three times larger than the maximum enshrined in the Maastricht Treaty. What caused the collapse in yields? And what are the implications for the euro zone?

The Summary 

Greek government bond (GGB) yields fell this week below 1%, reaching the lowest level on record. Only eight years ago, on February 14th 2012, GGBs yielded 33%. However, Greek government debt remains an enormous burden on the economy – at 180% of gross domestic product (GDP), its debt is three times larger than the maximum enshrined in the Maastricht Treaty. What caused the collapse in yields? And what are the implications for the euro zone?
In the aftermath of the financial crisis of 2007-2008 and the euro zone sovereign debt crisis in 2010-2012, Greece’s mishandling of the economy and misreporting of its deficits led to reform, austerity and a severe recession which shrunk GDP by over one quarter. The collapse in GDP pushed debt-to GDP ratios from 127% in 2009 to current levels while Greece sought bail-outs from the International Monetary Fund, the Eurogroup and the European Central Bank (ECB).
Greece underwent three successive economic adjustment programmes overseen by these three institutions (known as the troika), meeting a number of commitments, albeit with extreme difficulty, before finally exiting the bailouts on August 20th 2018.
The final agreement extended maturities on around one-third of Greek debt by ten years and instituted a ten-year grace period for interest and amortisation payments on those loans, providing much-needed relief to the government’s debt-service burden.
Under troika guidance, Greece’s government finances began to come under control. Expenditure was slashed and taxcollection systems improved, enabling Greece to promise to achieve a primary budget surplus (i.e., before the cost of servicing its debt) of 3.5% of GDP each year until 2022, continuing the run of surpluses each year since 2015 (see chart). And thanks to the partial grace period on interest, the overall budget balance is now back in surplus too.
Although much of the implementation of the bailout plan was carried out by the radical-left Syriza government, July 2019’s election saw the centre-right New Democracy party back in power. The return of a more business-friendly government was well received, with manufacturing PMI confidence up to 54.4, the second-highest level in the world, and consumer confidence at a two-decade high (see chart).
The better economic performance has encouraged rating agencies to take a more positive view on GGBs. Recently, Fitch lifted Greece’s credit rating to BB and the other agencies have their ratings on positive outlook. However, Fitch still rates Greece two levels below the investment grade level which would qualify GGBs for the ECB’s asset purchase programme.
Nonetheless, Greece still faces enormous challenges in addition to its debt burden. Foremost amongst these is the ratio of non-performing loans (NPLs) on bank balance sheets, which stood at 37.4% at end Q3 on ECB data, over twice as high as Cyprus at 17.5% followed by Portugal at 10% and Italy at 7%. Greece recently gained approval for its Hercules programme to transfer EUR30bn of NPLs to a special-purpose vehicle for securitisation and sale. However, completion of this scheme would still leave the NPL ratio around 25%, far too high for comfort.

Bottom line. GGBs have benefited from a combination of factors – improved public finances, better economic performance and their positive yields in a region dominated by negative-yielding bonds. However, Greece remains an economy in convalescence for which the return to a sustainable level of public debt will take decades. Moreover, as underlined recently by Christine Lagarde, the euro zone still needs to complete its Economic and Monetary Union to provide a supportive framework for its weakest members such as Greece. We would caution against chasing GGBs at such low levels of yield.

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Head of Investment Strategy Societe Generale Private Banking