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The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. The change in CFO will not likely impact Winters' departure timing greatly, Britzman said, with the StanChart CEO more focused on hitting the lender's key performance goals. De Giorgi previously held senior roles at Bank of America Merrill Lynch, including head of global investment banking. Before then, he worked in equity capital markets and financial institutions at Goldman Sachs (GS.N), rising to become chief operating officer for the investment bank by the time of his departure in 2012. That long period of underperformance has seen the bank's shares fall nearly 30% since Winters took over as CEO in June 2015.

Persons: Peter Nicholls, Diego De Giorgi, Andy Halford, De Giorgi, Halford, Matt Britzman, Hargreaves, Bill Winters, Frederic Oudea's, Winters, Britzman, We've, Bank of America Merrill Lynch, Goldman Sachs, Joe Dickerson, StanChart, underperformance, Iain Withers, Lawrence White, Radhika Anilkumar, Bernadette Baum, David Holmes Organizations: Chartered, REUTERS, Bank of America, Pegasus, British, Societe Generale, Goldman, Jefferies, Thomson Locations: London, Britain, Pegasus Europe, Asia, Africa, Bengaluru

The beat was underpinned by much lower-than-expected "cost of risk" - money set aside for failing loans - of 166 million euros. Analysts had expected 430 million euros. Dubbed a "year of transition" by Krupa's predecessor Frederic Oudea, 2023 is also marked by a severe downturn at SocGen's French retail banking division, fresh from a merger of its two local networks. The second quarter was also affected by negative exceptional items of 240 million euros, which Credit Suisse analysts said were tied to "legacy legal disputes". Retail banking outside France fared better, as did SocGen's car leasing division ALD Automotive (ALDA.PA), whose sales jumped by more than 17% thanks to the acquisition of rival LeasePlan.

Persons: Gonzalo Fuentes, Krupa, Slawomir Krupa, France's, Jefferies, Frederic Oudea, Intesa, LeasePlan, SocGen, Mathieu Rosemain, Augustin Turpin, Ingrid Melander, Mark Potter Organizations: Societe Generale, La Defense, REUTERS, Royal Bank of Canada, European Central Bank, Credit Suisse, Retail, ALD Automotive, Thomson Locations: French, Courbevoie, Paris, France, PARIS, Russia

☆ Eiffage CEO de Ruffray put forward as SocGen board candidate
▼ + stars: | 2023-03-10 | by ( ) www.reuters.com time to read: +1 min

PARIS, March 10 (Reuters) - Societe Generale (SOGN.PA) said on Friday that its board will propose that shareholders elect Eiffage (FOUG.PA) Chief Executive Officer Benoit de Ruffray as an independent board director at its general meeting in May. Three other board appointments will be put to the vote at the meeting on May 23. If elected by SocGen's shareholders, the four new board members will replace outgoing CEO Frederic Oudea, Kyra Hazou, Gerard Mestrallet and Juan Maria Nin Genova. These board appointment proposals come on the heel of a top management reshuffle proposed by Krupa, who is also set to formally take the reins of the French lender on May 23. Reporting by Mathieu Rosemain; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

☆ We expect more pressure on revenue this year, Société Générale CEO says
▼ + stars: | 2023-02-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe expect more pressure on revenue this year, Société Générale CEO saysFrédéric Oudéa, CEO of Société Générale, discusses its fourth-quarter and full-year results for 2022.

The reported group net income for the three months ending in December came at 1.16 billion euros ($1.24 billion), beating the analyst consensus of 834 million euros provided by Visible Alpha. SocGen's quarterly net income was however 35% lower than the same period a year ago, as the bank's hiked provisions for failing loans, which increased by close to fivehold to 413 millions in an uncertain economic environment. Group revenues were up by 4% to 6.89 billion euros in the fourth quarter, also beating the Visible Alpha consensus. Like its bigger French rival BNP Paribas(BNPP.PA), SocGen is enjoying higher revenues from debt and trading in volatile markets. It plans a 440 million-euro share buyback in 2023, on top of a cash dividend of 1.70 euro per share.

☆ Société Générale CEO: We are seeing extraordinary changes in inflation and rates
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSociété Générale CEO: We are seeing extraordinary changes in inflation and ratesFrédéric Oudéa, CEO of Société Générale, discusses how the French bank has navigated the challenges caused by the pandemic and war in Ukraine.

☆ SocGen profit tops forecast but France lags
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: +2 min

This photo, taken on October 28, 2019, shows the logo of the Societe Generale bank, in Ouistreham, Normandy, France. Societe Generale , France's third-biggest listed bank, joined European rivals in posting a higher than expected net income in the third quarter as market volatility boosted trading revenues. SocGen, which has appointed the head of its investment banking division as its new CEO from May 2023, said net income had come in at 1.5 billion euros ($1.46 billion)- well above a Refinitiv consensus forecast of 1 billion euros. The beat was driven by a 12% increase in Global Markets revenues, led by thriving trading in fixed income and currencies. The bank, which has seen a series of high-profile departures in recent weeks, said on Thursday it had appointed a new chief of risk.

☆ Société Générale Names New Chief Risk Officer
▼ + stars: | 2022-11-03 | by ( Mengqi Sun | ) www.wsj.com time to read: +2 min

Société Générale SA promoted a veteran banker to be its new group chief risk officer, as the French bank continues to navigate geopolitical uncertainties in Europe and a possible economic slowdown. Stéphane Landon, who has been Société Générale’s deputy chief risk officer since October 2020, will become the chief risk officer on Dec. 1, the bank said Thursday. He will succeed Sadia Ricke, who is leaving the bank at the end of this month to become the chief risk officer at Standard Chartered PLC in London. He served as Société Générale Americas’ chief financial officer in New York between 2018 and 2020, before taking the risk-officer position. He previously led the bank’s Americas business and worked on key market functions for Société Générale, including securitization and leveraged finance.

☆ Societe Generale says two senior executives to leave bank
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Societe Generale Private Banking is seen at an office building in Zurich, Switzerland March 25, 2022. REUTERS/Arnd WiegmannPARIS, Sept 23 (Reuters) - Societe Generale (SOGN.PA), which is seeking a new chief executive, said on Friday two senior female executives would be stepping down before the end of the year. France's third-biggest listed bank said Chief Risk Officer Sadia Ricke would leave on Nov. 30 and Caroline Guillaumin, the head of human resources and communication, would quit on Dec. 15. Ricke, a SocGen veteran, will become group chief risk officer of Asia and Africa-focused bank Standard Chartered, the London-based bank said in a separate statement. Register now for FREE unlimited access to Reuters.com RegisterRicke joined Societe Generale in 1994 and held a series of senior positions within the corporate and investment banking division before being appointed as chief risk officer last year.

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