Société Générale Private Bank has set up a new
executive committee as part of its two-stage growth strategy,
Ambition 2015, aimed at almost doubling assets under management to
€150bn in the next five years.

Société Générale Private Bank’s global chief
executive Daniel Truchi will lead the six member supervisory
committee that will direct the bank’s strategy and global
development.

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A spokesman for the bank confirmed Truchi’s
role would remain unchanged, with the advisory board adding more
structure support to the global chief.

 

Truchi outlines Ambition 2015
targets


Speaking to PBI in September last year, Truchi said
Société Générale’s growth will happen in two phases: 2010-2012 and
2012-2015 – using largely organic methods, although Truchi did not
rule out growth by acquisition.

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“It is not a number that has been plucked out
of our hat,” Truchi said in regards to how the France-based bank
plans to grow its private bank assets by almost €70bn ($97.5bn) in
five years.

“It is a very carefully designed business
plan. It comes from beefing up our operational platforms, beefing
up our product branch, developing our marketing skills and
targeting ultra high net worth individuals,” he says.

 

Balancing out geographic
responsibility

Four committee members will be responsible for
supervising operations in the bank’s key private banking
regions.

  • Yves Thieffry, deputy chief executive of Société Générale
    Private Banking, will supervise the activities of the private bank
    in Switzerland, Luxembourg, Monaco and the Middle East;
  • Patrick Folléa, chief executive of Société Générale Private
    Banking France, will also supervise the activities in Belgium;
  • Eric Barnett, chief executive of Société Générale Private
    Banking Hambros, will supervise the activities of the private bank
    in the UK, Canada and the United States;
  • Bruno Lèbre, global head of investment solutions, will
    supervise the activities in Asia (Singapore, Hong Kong, mainland
    China and Japan).

The final committee position – global head of
sales and marketing – is to be filled in the next few weeks,
the bank said.

Société Générale’s private banking unit has
2,800 staff in 21 countries.