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 - The Scissors Effect

As we have underlined in recent quarters, the COVID-19 lockdowns and ensuing recession have induced a massive policy response from central banks and governments. The former have slashed interest rates and boosted asset purchases while the latter have launched multiple fiscal support and stimulus packages. What does all this mean for the health of government finances? And what will be the impact on financial markets?

This year has seen an exceptional deterioration in public finances. Growth has collapsed and, with it, tax revenues. The International Monetary Fund expects a -4.4% fall in global output in 2020 with advanced economies (down -5.8%) particularly hard hit. In order to mitigate the negative impact on households and businesses, governments have borrowed heavily to fund welfare and investment programmes, in many cases offering to pay workers’ wages rather than see them lose their jobs. And with the numerator skyrocketing and the denominator plunging, debt-to-GDP ratios have surged. This week’s publication of the Global Debt Monitor report by the Institute of International Finance (IIF) offers some perspective on these trends.

According to the IIF, global debt (excluding the financial sector, to avoid double-counting when banks lend to businesses and households) hit an all-time high in Q3 2020 at $206.4 trillion (tn), up 9% over the past twelve months. This means that the aggregate debt-to-GDP ratio is up 32 percentage points (pp) from 241% to 273%. And with many economies likely to slip back into recession in Q4, the year-end figure is likely to look even more alarming. The bulk of the increase in debt has come from advanced economies where non-financial debt has reached $141.9tn, up $11.8tn in twelve months and taking the debt ratio up 38pp to 312% of GDP. The largest contribution to the increase in the developed world came from the US where debt rose $6.3tn, a rise of 47pp to 297% of GDP.

This year’s spike in global debt caps the fastest four-year increase on record – that is to say that economies have leveraged up, boosting demand in the near term at the expense of longer-term growth potential. This poses a problem for governments, businesses and households. In the previous cycle, from 2012 to 2016, non-US developed economies deleveraged, reducing their debt burden by $10.4tn only to see the debt-fuelled US economy outperform. Few governments have any appetite to reintroduce austerity programmes – on the contrary, the scale of this year’s recession has buttressed their determination to maintain stimulus policies. And there is little sign of any weakening in corporate thirst for debt – according to Moody’s, US corporate bond issuance is set to soar 45% to a record $2.5tn this year.

For now, the massive debt burden is made bearable by the combination of low key rates and sovereign yields with tight credit spreads. As shown on the chart below, debt service costs as a percentage of government revenue in advanced economies is set to fall even lower in coming years as maturing bonds of ever-increasing size are rolled over at lower yields. Of course, this has all been made possible by central banks’ easy monetary policy settings. Rates have been set close to zero or in negative territory while asset purchase programmes have pushed yields and credit spreads to historically low levels.

Bottom line. The US Federal Reserve and the European Central Bank have given every indication that easy money will remain the norm for years to come. This means that yields and spreads are unlikely to rise significantly in coming years, creating an environment of abundant liquidity in financial markets. While it is by no means clear that this will enable central banks to achieve their inflation targets, it will certainly alleviate the cost of servicing debt burdens. Of course, debt levels will have to be addressed at some point but the foreseeable policy settings push that day well into the future.

Read full article​​​​​​​

Head of Investment Strategy Societe Generale Private Banking