Competitor Profile: Societe Generale Private Banking 2024

Competitor Profile: Societe Generale Private Banking 2024

Summary

This report provides a comprehensive analysis of Societe Generale's private banking and wealth management operations. It offers insights into the company’s strategy and financial performance, including key data on assets under management. Customer targeting, service proposition, product innovation, and marketing activities are also covered.

Societe Generale is a universal banking group with a presence in 65 countries. It operates through three business segments: French Retail Banking, Private Banking, and Insurance; Global Banking and Investor Solutions; and International Retail, Mobility, and Leasing Services. These businesses are supported by the Corporate Center. Its headquarters are in Paris, France.

Scope

• In August 2024, Societe Generale signed two exclusive agreements with Union Bancaire Privee to sell its Swiss private banking activities (Societe Generale Private Banking Suisse) and its UK wealth management arm (SG Kleinwort Hambros).
• Environmental, social, and governance (ESG) remains a key focus. The group has committed to allocate EUR300 billion ($324.38 billion) towards the development of sustainable finance between 2022 and 2025. By the end of 2023, the group achieved over 80% of this target; raising more than EUR250 billion ($270.32 billion) in sustainable finance.
• Societe Generale is focusing on offering digital asset services to its HNW clients. In 2022, the Private Banking division launched Coach Financier; a comprehensive digital platform for life insurance contract arbitrage.

Reasons to Buy

• Examine Societe Generale's financial performance, key ratios, and assets under management growth.
• Benchmark the company against other global wealth managers.
• Understand its current strategic objectives and their impact on its financial performance.
• Discover its key products and client targeting strategies.
• Learn more about its marketing strategy, social media presence, and digital innovations.