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Societe Generale: Managerial changes within the Group
SOCIETE GENERALE: MANAGERIAL CHANGES WITHIN THE GROUP
Press release
Paris, 31 October 2024
Societe Generale announces managerial changes within the Group.
Within General Management:
Following a proposal by Slawomir Krupa, Chief Executive Officer, the Societe Generale Board of Directors, under the chairmanship of Lorenzo Bini Smaghi, approved on 30 October 2024 the reduction of the number of General Management executive officers to two: Slawomir Krupa , Chief Executive Officer, and Pierre Palmieri , Deputy Chief Executive Officer.
Philippe Aymerich , Deputy Chief Executive Officer, will step down from his role on 31 October 2024.
As part of this change, Slawomir Krupa will assume direct supervision of Retail Banking activities in France (SG Network and BoursoBank), Private Banking, and Insurance.
Within Retail Banking and Private Banking:
Bertrand Cozzarolo and Thierry Le Marre are appointed Co-Heads of the SG Retail Banking network in France, effective 1 November 2024. They have been serving Societe Generale and its clients since 2004 and 1998, respectively. Their extensive experience in retail banking activities in France and abroad, as well as their direct contribution to the development of SG Retail Banking, will be essential assets in implementing our ambitious commercial roadmap to deliver sustainable performance.
They replace Marie-Christine Ducholet , who will pursue projects outside the Group, effective 31 October 2024.
Mathieu Vedrenne is appointed Head of Private Banking activities, effective 1 November 2024, replacing Bertrand Cozzarolo. At the service of the Group and its clients since 2001, he is currently Deputy Head of Private Banking, with particular responsibility for Private Banking in France, where he has successfully led its many years of sustainable growth.
Within Financial Management:
Leopoldo Alvear is appointed Chief Financial Officer of the Group, effective 7 January 2025. He will also become a member of the Group Executive Committee. With over 27 years of banking experience, including 12 years as head of financial departments at banking institutions (successively at Bankia and currently at Banco Sabadell), Leopoldo Alvear has demonstrated outstanding professional and leadership qualities.
He will succeed Claire Dumas , who will ensure a seamless transition of the Chief Financial Officer duties until the end of January 2025, before pursuing professional opportunities outside the Group.
The role of the Chief Financial Officer remains a direct report to Slawomir Krupa.
Slawomir Krupa, Chief Executive Officer, comments : "Over the past 18 months, we have initiated numerous transformation, development and efficiency initiatives to strengthen our Group and increase the sustainability of our performance. We are already realizing the tangible benefits in our results. The trajectory of our improvement is clear, and our determination is unwavering.
I would like to warmly thank Philippe and Marie-Christine for their commitment throughout the many years they have served our Group, and I wish them every success in their new projects.
I am proud to promote our internal talents, Bertrand, Thierry and Mathieu, to continue building the new model of our SG Network in France while also developing our Private Banking activities, and strengthening commercial dynamics, synergies, and financial performance of our retail banking activities in France.
I would also like to thank Claire for all the work she has done for Societe Generale over the past two decades, which she will continue during the transition period until the end of January.
I am delighted to welcome Leopoldo to our team starting 7 January. His experience as a chief financial officer of other banking institutions, as well as his professional and personal qualities, will be valuable assets in ensuring the flawless execution of our strategic plan.
Our ambition remains the same: to build a stronger and more profitable bank and create more long-term value for all our stakeholders."
Press contact:
Jean-Baptiste Froville_+33 1 58 98 68 00_ jean-baptiste.froville@socgen.com
Biographies
Societe Generale
Societe Generale is a top tier European Bank with more than 126,000 employees serving about 25 million clients in 65 countries across the world. We have been supporting the development of our economies for 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective - to deliver sustainable value creation for all our stakeholders.
The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:
Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
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