Private clients Financial intermediaries

Become a client

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 - Frankfurt, Rome and Brussels – a tale of three cities

This week’s first estimate for Q1 GDP growth in the euro zone coincided with a downgrade of Italian debt by the Fitch rating agency. These publications brought the scale of the region’s problems into stark focus just as the European Central Bank (ECB) held its regular meeting. What can the ECB do, and what will it mean for Italian bonds?

Euro zone GDP shrank a non-annualised -3.8% in the first quarter, much weaker than the -1.2% registered in the US economy over the same period. Moreover, the second quarter is set to be much weaker, given that lockdowns only commenced in late Q1 – ECB President Lagarde fears the decline could reach -15% and that the economy won’t reach its “new normal” until next year. At its meeting in Frankfurt yesterday, the ECB kept its rates and asset purchases unchanged and instead focused on ensuring the banking system will have adequate liquidity. To that end, the ECB expanded its programme of lending to banks at ultra-low rates. For example, it cut the rates available for its Targeted Longer-Term Refinancing Operations to up to -1.0% for banks that keep the size of their loan book unchanged. This makes sense – banks provide 80% of financing needs for businesses in Europe versus 19% in the US. The ECB disappointed investors by not increasing the size of March’s Pandemic Emergency Purchase Programme (PEPP). This shouldn’t have come as a surprise – it has only bought around €120bn so far out of the planned €750bn total so there was no urgency to act. However, investors worry that the ECB has been much less proactive than the US Federal Reserve (Fed) – the ECB’s total balance sheet has increased by €655bn since end-February while the Fed’s is up $2,497bn over the same period. The ECB did provide some reassurance by saying it is “fully prepared” to increase the PEPP and to “adjust its composition, by as much as necessary and for as long as needed”. And Mme Lagarde also left the door open to buying “fallen angel” bonds (i.e., issues which have recently lost their investment-grade rating), an option which could prove of critical help to countries like Italy. This week, Fitch’s downgrade took Italian debt to just one notch above high yield or speculative grade. With the other two major rating agencies – S&P and Moody’s – having reaffirmed Rome’s rating last week, there is little risk of it losing investment grade status for now. Nonetheless, today’s recession is again calling the sustainability of Italy’s finances into question. Nominal GDP growth has fluctuated between 0.6% and 3.0% since the end of the euro zone crisis, as has the average cost of servicing its debt as a percentage of GDP (see left-hand chart). This has enabled Italy to keep its debt to GDP ratio rather stable. However, the IMF Fiscal Monitor now sees Italy’s debt to GDP ratio reaching 155.5% this year, up from 134% in 2019. Although Italy has successfully kept up a primary budget surplus (i.e., a government’s income minus its spending but before debt service) in recent years, it will disappear in 2020, given the expected collapse in tax revenue and dramatic increase in fiscal spending. While the ECB’s purchases have been skewed recently to favour Italian bonds (see right-hand chart), this has not been sufficient to return yield spreads to end-2019 levels. Given the scale of the crisis, Rome needs more help – according to Christine Lagarde, an “ambitious and co-ordinated [euro zone] fiscal stance is critical”. In that respect, the failure of the European Council meeting organised by Brussels last week to approve a common recovery fund is problematic – arguably, it is in times like these that the EU should show most solidarity for its weakest members.

Bottom line. The history of the European Union is littered with examples of leaps forward only being achieved at the last possible minute. Recent statements from European Commission head Ursula von der Leyen and Angela Merkel raise some hope that the Gordian Knot preventing joint support for Italy and Spain might at last be cut. Until that time however, Italian yields spreads over German Bunds are likely to remain uncomfortably high.

Read full article​​​​​​​

Head of Investment Strategy Societe Generale Private Banking