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 - Inflation – running hot or cold?

In recent months, government bond yields have been grinding steadily higher, led by the rates on 10-year US Treasuries. The rises continued this week despite the rather dovish tone struck by Federal Reserve (Fed) chairman Jerome Powell in his bi-annual testimony before Congress. Although he does see prices rising in the short term – boosted by year-on-year comparisons with rock-bottom energy prices last spring – he does not believe the increases will be large or persistent. Do rising yields reflect confidence that the pandemic is waning or fears that fiscal profligacy could push inflation out of control? And what does all this mean for economies and markets?

US 10-year yields started 2020 at 1.92% before plummeting lower as the scale of economic disruption from the pandemic became clear and the Fed slashed short rates to zero. The lows in yields were reached at only 0.51% in August, before investors began to take comfort from the scale of monetary and fiscal support and to push yields higher, slowly at first and then faster after November’s announcements of effective vaccines. This week, yields hit 1.52%, having tripled in only six months. Inflation worries have been stoked by the size of fiscal support packages, notably Joe Biden’s $1.9 tn plan to aid US households, businesses and local governments. This represents some 9% of US GDP, rising to 13% if we factor in the $900 bn package signed by Donald Trump in late December. However, Biden’s plan is designed to alleviate economic distress – via government handouts, enhanced unemployment benefits, grants for small businesses etc. – rather than boost long-term growth prospects.

In addition, economic slack remains sizeable. The output gap (the difference between growth potential and actual output) is still wide and many millions of new jobs will need to be created before wage pressures begin to build. Furthermore, households seem to have preferred to build up savings rather than spend – consumer credit growth has not accelerated despite the sharp rise in money supply and the personal savings rate ticked up to 13.7% in December, almost double the 7.3% average of the previous decade. All in all, Powell’s belief that it will take more than three years to reach the Fed’s new longer-run average inflation target of 2% – and that inflation risks remain to the downside – looks justified.

Moreover, rising federal deficits have added dramatically to the US debt burden. Our economists expect the debt-to-GDP ratio to reach 129% this year (see the left-hand chart below), a level which is likely to be breached if all Biden’s spending plans are approved. This is well above the 90% level which academic studies suggest leads to weaker GDP growth as resources are diverted to service the debt. For now, the cost of debt service has been kept under control by the collapse in bond yields, but a sustained rise in long rates would surely call into question the sustainability of federal finances.

As a result, we expect the Fed to maintain current policy settings and to use its buying power to keep Treasury yields from rising too far. Mr Powell is unlikely to embrace “yield curve control” explicitly – this policy involves a commitment to use a central bank’s asset purchases to keep yields at a certain level, as implemented by the Bank of Japan and the Reserve Bank of Australia – but the Fed’s $120 bn buying per month could be used to the same ends.

Bottom line. Although bond yields may continue to rise in coming months, we do not expect an inflationary spiral to set in and long rates should ease lower by late 2021. In general, bond markets offer little value and we maintain an underweight stance. As shown on the right-hand chart, periods of rising Treasury yield often coincide with a switch from growth stocks to value – discounting long-term cash flows at higher rates leads to a lower net present value for highly-valued equities. All told, a balance in portfolios between the two categories seems prudent.

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Head of Investment Strategy Societe Generale Private Banking