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 Céline Pastor, 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 - 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