Societe Generale has reshuffled its organisation and made a number of appointments within its senior management teams with the aim of creating a 'more agile, customer-focused way of working in light of the priorities set out in its new strategic plan, to be released on November 28'.
Cecile Bartenieff (pictured), global head of operations, has been appointed chief operating officer, global banking & investor solutions. Based in Paris, Bartenieff will report to Didier Valet, former head of global banking & investor solutions, who replaced Frederic Oudea as chief financial officer while keeping direct control of the securities division when the latter became chief executive officer.
The bank enlarged its general management team in January with the appointment of Valet as deputy chief executive officer. Valet retained his role as head of investment banking with Oudéa as chief executive officer.
Bartenieff joined SG as head of finance control support and has held several senior roles such as programme director deputy for international accounting standards, global head of equity derivatives and accounting group, global head of equity derivatives middle office, capital markets transversal chief operating officer, and global head of trade support and OTC operations.
The new organisational structure will be based on 17 business and 10 service units that will report directly to the group's general management team. The bank will embark on its new strategic phase starting in 2018, which will be presented to the markets on November 28, 2017, according to Oudéa.
The French bank has also announced that it will be working on a new governance structure, which is expected to be implemented in September 2017.
As a result of the changes, financial results will continiue to be based on three balanced core businesses including French retail banking, international retail banking and financial services, and global banking & investor solutions. Societe Generale French Retail Banking network has launched a plan to further develop its organisation with the creation of three new divisions: clients, operations & transformation and real estate.
Other appointments that will become effective on June 1, 2017 include Edouard-Malo Henry, head of human resources, who will assuem the new role of head of compliance and report to Severin Cabannes, deputy chief executive officer with finance, risk, resources and compliance departments reporting to him. Arnaud Jacquemin, deputy general secretary, will continue to manage the transformation of the compliance function, under the supervision of Edouard-Malo Henry; while Alain Bozzi, who is deputy head of compliance, will be responsible for group internal control coordination. Françoise Mercadal-Delasalles, head of corporate resources and innovation, will take over the role of deputy chief executive officer of Credit du Nord and Christophe Leblanc, who is chief operating officer of global banking and investor solutions, will become head of corporate resources and innovation. Marie-Christine Ducholet, head of equipment finance businesses, and Philippe Amestoy, deputy chief executive officer of Credit du Nord, will join SG French retail banking management team and report to Laurent Goutard.
In addition, Jean-François Mazaud, head of SG Private Banking, will supervise Lyxor and be proposed as chairman of the supervisory board of Lyxor, with Lionel Paquin remaining CEO of Lyxor. Patrick Follea will take on an expanded deputy head role for SGPB while retaining his existing position as head of SGPB France.
During this transitional period, Didier Hauguel and Jean-Luc Parer have been charged with steering and supporting the international banking and financial services until September as it moves to its new organisation. Hauguel will remain country head for Russia and continue to hold key roles in the governance of the financial services and insurance entities. By the end of 2017, Parer will take on a role as advisor to the general management.
The new appointments follow the departure of Christophe Mianné, one of SG's most senior executives and an emblematic figure in equity derivatives, who is parting ways with the French bank after more than two decades of service.
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