A new Private bank in France

Societe Generale is radically developing its private banking relationship model in France and extending its offer to a larger number of clients.

This new model, which combines the expertise of the private bank with the proximity of the retail bank, will ensure a personalised service and an offer which is perfectly adapted to the needs of clients in a complex economic environment. It is structured at a local level around:

• a private banker, the privileged contact with clients, who determines with them the best solutions for the organisation of their wealth and investments. The private banker carries out a full diagnosis of their wealth and accompanies them over the long term in the management and growth of their assets;
• a client advisor, who is in charge of the day-to-day banking relationship in the client’s usual branch;
• a team of experts, composed of wealth planners and investment advisors.

This new organisation enables Societe Generale to extend its private banking offer to all its clients with financial assets of over 500,000 euros. It responds to the increasingly strong demands from clients and it is part of an approach to strengthen client satisfaction.

Societe Generale Private Banking is thus positioning itself as the top-tier private bank of reference in the French market, recognised for the quality of its services, which are now available to almost 40 000 households, representing a total of around 50 billion euros in assets under management (figures as at 30 September 2013). This organisation will also serve to attract new clients from all over France and develop synergies with entrepreneurs and professionals who are clients of the Societe Generale network.

This development is the result of the activities carried out jointly since 2008 between the private bank and Societe Generale’s retail bank in France, which led to opening a shared structure of eight regional private banking centres. Close to 200 new private bankers and experts, located in around 100 Societe Generale branches in 80 towns and cities, will join the existing organisation.

The private bank is at the centre of Societe Generale’s universal banking model and its development is part of the second phase of the transformation of the Group, which aims to develop synergies in order to respond to the specific needs of clients.