Contact

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 42 14 20 00 (9am - 5pm)
Luxembourg : +352 47 93 11 1 (8:30am - 6pm)
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 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 Bieneke Russon, the Data Protection Officer of Societe Generale Bank & Trust Luxembourg by phone : +352-47.93.93.11.5046 or by sending an email to the following address : lux.dpooffice@socgen.com.

Please contact Julien Garnier, 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 Omar Otmani, 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?

 Any claim addressed to Societe Generale Private Banking France should be sent by e-mail to the following address : FR-SGPB-Relations-Clients@socgen.com or by mail to : 

Société Générale Private Banking France
Direction Commerciale
29 boulevard Haussmann CS 614
75421 Paris Cedex 9

The Bank will acknowledge your request within 10 days after receipt and provide a response to your claim within 60 days of receipt. If your request requires additional processing time (e.g. if it involves complex researches…), the Bank will inform you by mail. 

In the event that the response you receive does not meet your expectations, we suggest to contact : 

 

The Societe Generale Group’s Ombudsman

The Societe Generale Group’s Ombudsman can be contacted by the following website : mediateur.societegenerale.fr  or by mail :

Le Médiateur auprès de Société Générale
17 Cours Valmy 
92987 PARIS LA DEFENSE CEDEX 7
France

In reviewing any matter, the Ombudsman undertakes the consideration of both the client’s and the bank’s point of view, evaluates arguments from each of the parties and makes a decision in all fairness.

The Group’s Ombudsman will respond to you directly within two months of receipt of the written submissions of the parties relating to the claim.

 

The Ombudsman of the AMF

The Ombudsman of the Autorité des Marchés Financiers (AMF) can be contacted at the following address :

Médiateur de l'AMF, Autorité des Marchés Financier
17 place de la Bourse
75082 PARIS CEDEX 02
FRANCE


The Insurance Ombudsman

Please contact the Insurance Ombudsman : contact details must be mentioned in your insurance contract.

To ensure that your requests are handled effectively, any claim addressed to Societe Generale Bank & Trust should be sent to:

Private banking Claims department
11, Avenue Emile Reuter
L-2420 Luxembourg

The Bank will acknowledge your request within 10 days and provide a response to your claim within 30 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-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 SGBT Division responsible for handling claims, at the following address:

Corporate Secretariat of Societe Generale Bank & Trust
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 Bank & Trust's supervisory authority, the Commission de Surveillance du Secteur Financier (Financial Sector Supervisory Commission) :

By mail: 283, Route d’Arlon L-1150 Luxembourg
By e-mail: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 days after receipt and provide a response to your claim within 10 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-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 : 

Secrétariat Général de Societe Generale Private Banking Monaco 
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 - Fiscal Stimulus, EU Style

Over the last couple of weeks, we have analysed the scale and implications of the latest US fiscal stimulus plans. This week, we return to the NGEU – the European Union’s €750bn Next Generation EU recovery fund – which was first agreed last summer. When will investments begin and will they be sufficient to kickstart growth? And what does all this mean for markets?

As is often the case in Brussels, the NGEU plan has had a long gestation. Initial opposition led by the “Frugal Four” – Austria, Sweden, Denmark and the Netherlands – focused on the fund’s mix of grants and loans and on the plan for the EU to issue bonds jointly guaranteed by all members. In the event, members agreed to go ahead with the joint borrowing and fixed the financing split at €390bn in grants and €360bn in loans, instead of the initial 500/250 proposed by the Commission. Then opponents – led this time by Hungary and Poland – held up ratification because of “rule of law” provisions, before a compromise was struck at the December EU summit which also ratified the multi-annual financial framework (the EU’s budget).

And then in late March, a challenge by a group of lawmakers to Germany’s constitutional court halted ratification of the fund, despite a 478:167 vote in favour in the Bundestag. Such objections are not uncommon – last year, a challenge on the constitutionality of the European Central Bank’s pandemic emergency asset purchases delayed formal approval by Germany until a compromise solution was found. We believe that this pattern will be repeated, allowing NGEU ratification to complete successfully on time thereby enabling disbursements to commence by the summer.

It is striking to note the disparity in size between the NGEU and Joe Biden’s $2.29 trillion American Jobs Plan (AJP), some €1.93tn. In part, this reflects the fact that it should be much easier for Biden to obtain approval than it was for the European Commission, which had to break new ground to launch this plan – the US has run a federal budget for centuries whereas the EU still lacks a permanent central fiscal capacity. But in part it also reflects differing starting points and requirements – EU members offer greater welfare provision for citizens, including partial unemployment schemes, while the US had to boost unemployment benefits; moreover, the EU has accumulated a shortfall in investment since the Great Recession whereas the US has underinvested in its physical infrastructure for decades.

At the heart of the NGEU fund will be the €672.5bn Recovery and Resilience Facility which was established in February 2021, leaving member countries until end April to submit their investment and reform plans in six key policy areas (green transition and digital transformation, 37% and 20% of the total respectively, followed by jobs, social cohesion, healthcare and education and skills). The investments are set to be spread over the next six years, representing over 1% of EU GDP per annum on average. This should help close the EU’s output gap, which Deutsche Bank estimates to be around 5% of pre-pandemic potential GDP. All in all, the Commission expects the recovery fund to add some 2% to EU GDP over the next few years.

The financing mechanisms for the NGEU and the AJP will also differ radically. Biden plans to finance the spending via tax increases (see Let’s Talk About Tax) while the EU’s plan is debt-financed (with 30% coming via issuance of green bonds). This means that some of the economic benefits of the AJP may be blunted by a less-favourable tax regime, a burden which the NGEU is likely to avoid.

Bottom line. The jointly-guaranteed borrowing to finance the EU recovery fund will help allay market fears about euro zone break-up, a positive for the single currency. The borrowing will also provide a new benchmark for euro-denominated sovereign bonds, although the negative yields on offer will hold little attraction for investors. The NGEU will provide a solid boost to EU GDP growth in coming years, but this is likely to be eclipsed over the next 18 months by the cyclical recovery we see starting this summer. In sum, we remain Overweight euro zone equities within diversified portfolios.

Read full article​​​​​​​

Head of Investment Strategy Societe Generale Private Banking