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February 4, 2014updated 04 Apr 2017 2:32pm

SocGen reinvents European private banking

Société Générale (Socgen) is developing its private bank in France to combine features of both private and retail banking.

By Patrick Brusnahan

Société Générale (SocGen) is developing its private bank in France to combine features of both private and retail banking.

The new model is set to extend private banking services to clients with assets that total over EUR 500,000. In addition, 200 new private bankers and experts will join the existing organisation.

SGPB in France will continue to be led by Patrick Follea in his current role as deputy head of Société Générale Private Banking.As of September 2013, SGPB held approximately EUR 50 billion in assets under management (AuM) in France.

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