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 : reclamation.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 - Maximum employment - the Fed's new objective

In late August every year, the Kansas branch of the Federal Reserve (Fed) organises a symposium in Jackson Hole, Wyoming, on economic and monetary policy. Such meetings often yield little of importance but this year’s virtual meeting heralded a seachange in Fed’s policy framework, announced by Chair Jerome Powell. What did he announce, and what does it mean for interestrates and markets?

Powell’s speech marked a historic shift in the way the Fed defines its dual objectives of price stability and full employment. Since January 2012, the Fed has defined stability as inflation at 2%, and full employment as being the “equilibrium” level. The two objectives are considered to be linked in economic theory – this relationship, known as the Phillips curve, means that when unemployment falls below its equilibrium level, wage rises begin to push inflation higher and it’s time for the Fed to switch to a more restrictive policy.

This theory has been challenged in recent years by persistently low levels of inflation, as measured by the Fed’s preferred metric of core personal consumer expenditures (core PCE). Since the 2% target was introduced, core PCE has averaged 1.6% and has only rarely ventured above 2%. In recent years however, the US labour market has been very strong with the headline unemployment rate reaching 3.5% before the coronavirus crisis hit, the lowest since 1968. With the jobless rate well below the equilibrium level at which inflation should have emerged, the Fed appears to have concluded that the Phillips curve was broken. In his speech last week, Powell announced that the central bank is now targeting an average level of 2% over time. This suggests that after an extended period of undershooting its objective, the Fed will be happy to see inflation stay above target to bring the average back in line. But although most reports of Powell’s speech focused on inflation, it is arguably the implications for the job market which are the most profound. The Fed has subtly shifted its main focus away from inflation and in favour of employment. Indeed, Powell noted in his speech that the “robust job market was delivering life-changing gains…, particularly at the lower end of the income spectrum” and made maximum employment a “broad-based and inclusive goal”. Looking ahead, unemployment can be too high but never too low in the Fed’s eyes.

In the near term, all this leaves the outlook for US monetary policy pretty well unchanged. Key rates – the Fed Funds – are already at the zero lower bound, core PCE at 1.3% in July is still well below target while unemployment at 8.4% is far from equilibrium. This leaves the onus on asset purchases to transmit monetary policy and help the Fed achieve its objectives. But the shift in the framework means that the Fed’s reaction function will be very different in future – Powell will hope to see unemployment fall well below pre-COVID-19 levels but is unlikely to think about tightening policy until accelerating prices have been well above 2% for an extended period of time.

Bottom line. Last week’s announcement put some upward pressure on the market’s implicit inflation expectations – the difference between yields on fixed-coupon Treasury bonds and inflation-linked securities. However, with the gap between actual and potential levels of activity still extremely wide, we do not expect any lasting rise in prices over the next few years. And with Fed Funds stuck at zero and the Fed set to continue massive asset purchases for the foreseeable future, Treasury yields are likely to remain low, pushing investors towards riskier assets. Finally, any weakening in the economy or failure to bring unemployment much lower would likely trigger renewed Fed easing, further inflaming investors’ preference for equities.

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Head of Investment Strategy Societe Generale Private Banking