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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

 

The monetary illusion: a magic trick that will not enchant your finances!

We cannot ignore the many comments about the resurgence of inflation. Yet we don’t seem to be concerned about that when it comes to financial decisions. How do we explain this danger to our personal finances?

 

While the topic of purchasing power is at the center of public debate in many countries, the name of Gérard Majax, a famous magician of French television, was quoted during the in-between rounds of the French presidential election! A reference far from being incongruous… Indeed, we will see in this article that, in terms of purchasing power, illusion has a real place.

Reasoning out inflation: no magic wand!

Spring is here, with its many garage sales and fairs, which give us opportunities to bring out objects from past decades to try to get a couple of bucks from collectors. Therefore, some hope to realize great capital gains by reselling, for example, 300 euros, objects initially bought half price in the 1980s (1000 French francs or the equivalent of 150 euros)! Apparently enough to make a fortune… but in the meantime inflation has gone through there and this 1,000 francs are now equivalent to nearly 450 euros today according to the Insee (Institut national de la statistique et des études économiques – National institute of statistics and economical studies)(1)… Wealth will not be there…

 

The “monetary illusion” is precisely defined as the preference for indicators excluding inflation (in nominal terms), rather than after taking it into account (in real terms). How to explain that? Firstly, it is easier to understand aggregates – in other words, financial elements - excluding inflation; secondly, because of our easier attention to nominal terms. This unfortunate preference was highlighted in a famous 1979(2) study in which the participants had to classify the financial choices of three fictitious characters, Adam, Carl and Ben, in order to distinguish who had made the best deal. The case was as follows: after receiving a home for $200,000, Adam sold it for $154,000, 23% less, but with 25% deflation (price drop) over the period; Ben sold it for $198,000, down 1%, while prices remained stable over the period; Carl sells it for $246,000, an increase of 23%, with inflation of 25% over the period.

The majority of participants considered that Adam (+2% in real terms) performed the worst operation and that conversely Carl (-2% in real terms) recorded the best operation! By focusing on the emotional aspect, the participants reasoned in nominal terms!

The monetary illusion is of particular importance today: by not integrating monetary erosion linked to inflation, certain asset allocations can be unfortunate. Similarly, it is necessary to change our perception of what constitutes an attractive level of profitability (in terms of risk-taking) in this inflationary context.

The smoke and mirrors of emotions

A more recent experience(3) confirms our difficulty in understanding financial equations when our emotions take over. Thus, taking again a fictitious case, participants to the study were asked to judge a real estate transaction mixing borrowing and resale of a house previously bought. This experience has shown that when the question asks to focus on the economic terms of the transaction (the “best transaction”), the answer given is well considered: regardless of the amount of residual debt at the time of resale, the transaction is perceived as equivalent. On the other hand, in the event of a loss of value resulting in a negative flow to repay the remaining debt, taking into account the pain related to the negative flow blurs the perception, even with an identical amount of loss of value between the owners. Finally, this study highlights that the concentration of respondents on feelings (“happiness”) influences the response: the possible negative flow and the associated liquidity constraint is all the more badly felt.

Thus, to integrate the changing economic environment and rising prices, it is key not to be blinded by emotions but to stay on economic aspects, sometimes very calculating.

You will have noted the length of the article… also a victim of inflation… or how to let yourself be overwhelmed by emotion when writing!

 


(1)  https://www.insee.fr/fr/information/2417794

(2) « Money Illusion », E. Shafir, P. Diamond et A. Tversky (1997) 

(3) "Is There a Link Between Money Illusion and Homeowners’ Expectations of Housing Prices?", L. Ackert, B. Church et N. Jayaraman (2011)

WARNING

This document is an advertisement and has no contractual value. Its content is not intended to provide an investment service, nor does it constitute investment advice or a personalised recommendation on a financial product, nor insurance advice or a personalised recommendation, nor a solicitation of any kind, nor legal, accounting or tax advice from any entity under the responsibility of Société Générale Private Banking.

The information contained herein is provided for information purposes only, is subject to change without notice, and is intended to provide information that may be useful in making a decision. Past performance information that may be reproduced is not a guarantee of future performance.

Before subscribing to an investment service, financial product or insurance product, the potential investor (i) must read all the information contained in the detailed documentation for the service or product in question (prospectus, regulations, articles of association, key investor information document, term sheet, information notice, contractual terms and conditions, etc.), in particular those relating to the associated risks; and (ii)consult his legal and tax advisors to assess the legal consequences and tax treatment of the product or service being considered. His or her private banker is also available to provide further information, to determine with him or her whether he or she is eligible for the product or service under consideration, which may be subject to conditions, and whether it meets his or her needs. Accordingly, no entity within Société Générale Private Banking can be held responsible for any decision taken by an investor solely on the basis of the information contained in this document.

This document is confidential, intended exclusively for the person to whom it is given, and may not be communicated or brought to the attention of third parties, nor may it be reproduced in whole or in part, without the prior written consent of Société Générale Private Banking. For more information, click here.

Édouard Camblain Investment Advisor