Societe Generale announces changes to its Group General Management team

PARIS, 16-Jan-2017 — /EuropaWire/ — For several years, Societe Generale Group has been committed to an ambitious transformation plan to develop its customer focus and adapt its operating model to contend with the major changes affecting the banking market worldwide, and strengthen its position among the major European banks.

On the proposal of Frédéric Oudéa, Societe Generale’s Board of Directors decided, at its meeting held on 13 January 2017, to enlarge the General Management team with the appointment of a new Deputy Chief Executive Officer, Didier Valet. This change meets a dual objective of enhancing both our client-focused approach and the Group’s governance.

Starting on 16 January 2017, the Group General Management team is made of:

•  Frédéric Oudéa, Chief Executive Officer
• Séverin Cabannes, Deputy Chief Executive Officer, in charge of steering and control for the Group. The Finance, Risk, and Resources Departments report to him. The Compliance Department will also report to him in the new set up.
• Bernardo Sanchez Incera, Deputy Chief Executive Officer, French and International Retail Banking, Financial Services, and Insurance.
• Didier Valet, Deputy Chief Executive Officer, Corporate & Investment Banking, Private Banking, Asset Management and Securities Services.

For Chief Executive Officer Frédéric Oudéa, “This change to the General Management is the first step toward a new, more agile mode of governance for the Group. The first objective will be to define very quickly the organisation and governance that are best suited to the Group’s strategic ambitions and transformation challenges. Working closely with me, this new General Management team will be responsible for defining and implementing the bank’s new strategic plan, drawing on the strength of this new organisation.”

Press contact:
Laetitia Maurel –  +33 1 42 13 88 68 – Laetitia.A.Maurel@socgen.com
Pascal Henisse – +33 1 57 29 54 08 – pascal.henisse@socgen.com
@SG_presse