The monthly report
The Major Events of November 2009
A LA UNE
>> TCW and MetWest Announce Definitive Acquisition Agreement
The TCW Group, a subsidiary of Société Générale, and Metropolitan West Asset Management, a nationally recognized fixed income investment management firm in the US, have signed a definitive purchase agreement wherein MetWest will be acquired by TCW.
Key MetWest investment professionals will immediately assume portfolio management responsibilities for all of TCW's high-grade fixed income client accounts. As it relates to current MetWest clients, MetWest will maintain investment control over its existing fixed income portfolios and strategies and expects no change in its investment process or discipline. Upon completion of the transaction, MetWest Partner and CEO, David Lippman, will become Group Managing Director and Head of TCW's high-grade fixed income business and a member of The TCW Group, Inc. Board of Directors.
>> Société Générale makes efforts to help the professional integration of the disabled
The week of 16th to 22nd November marked Employment of Disabled Workers week in France. Mission Handicap Société Générale was present at 11 recruitment events around France. Every November, this national event is organised by ADAPT (www.semaine-emploi-handicap.com).
In terms of recruitment, we pledged to recruit 160 disabled people by December 2010, and have already recruited 150, including 45 people in 2009, which has not been an easy year. The Employment of Disabled Workers week provides Mission Handicap with the opportunity to attend around fifteen forums in Paris and throughout France, which I hope will help us meet and even exceed our recruitment targets for next year as laid out in the company agreement.
>> Société Générale backs several initiatives in favour of the environment
In 2009, Société Générale supported several projects launched by associations concerning climate change, water and biodiversity.
Moreover, Société Générale is informing its employees of the major issues at the Copenhagen summit. To this end, the Group is launching its second Climate change fortnight that includes a photo exhibition (at the Head Office) on ‘climate refugees’, a series of conferences on economic, energy and human issues connected to climate change, and a screening of ‘The Water Diary’ by Jane Campion.
Donato González is appointed Group Country Head for Spain and Portugal, effective January 1st, 2010. He will replace Gilbert Pla, who will retire at the end of December after spending almost 37 years at Société Générale.
Serge Cailly is appointed Deputy Head of Société Générale French Distribution Network as of 01 December 2009. He will assist Laurent Goutard, Head of Société Générale French Distribution Network. As of this date, Serge Cailly will join the Group’s General Management committee.
SG Private Banking, the Group’s wealth management arm, is reinforcing its presence in the Middle East by appointing two new senior managers: Eddy Abramo, CEO of SG Private Banking (Middle East), and Eric Lorentz, Managing Director and Global Market Manager for Arab High and Ultra-High Net Worth clients.
- OUR EXECUTIVES
>> Frédéric Oudéa meets with SMEs in Clermont-Ferrand
After the first meeting in Pantin and one in Toulouse, senior managers of France's major banks met with some sixty SMEs from Clermont-Ferrand. The goal of these meetings was to meet with French SMEs, listen to them, and discuss the standpoint of the banks and their commitment to financing these businesses.
>> ALD Automotive and Boursorama voted best customer service
Since his appointment as Chairman and CEO in May 2008, Frédéric Oudéa has made customer relations one of the group’s key priorities. This priority has been confirmed by the Ambition SG 2015 think-tank, as one of the five projects instigated by CODIR (the management committee) concerns this customer aspect. Within this context, these recent best customer service 2010 awards for the two Societe Generale subsidiaries should make the entire Group very satisfied!
>> SGSS wins Regional Sub-Custodian of the year
Société Générale Securities Services (SGSS) has won the award for « Regional Sub-Custodian of the Year for South Europe » at the ICFA European Custody and Fund Administration Awards which took place in London on Wednesday 25 November 2009.
- OUR BUSINESSES
>> Société Générale and Universal Music France launch the So Music Rolling Stones Visa card
The So Music Rolling Stones card was launched on 1 December to coincide with the latest efforts to remaster and reissue the Group's albums. The lips and tongue logo on the card is instantly recognisable around the world. This is an idea opportunity for the Group to set itself apart from the competition and attract new clients.
>> Société Générale organises SOGElive in the network
On 30 November, Société Générale organised a “SOGÉlive in the network” day at its Paris branches at Saint Lazare and on boulevard Saint-Germain, to give people the opportunity to discover the job of client services representative.
>> BDDF advertising campaign: financing the economy
An extensive press and radio ad campaign designed to confirm Société Générale’s commitment to financing the economy has been launched.
>> ALD Automotive developing in China
Through the creation of a Joint Venture with Chinese steel giant Baosteel, and to be more precise with Fortune Investment Co., its financial business segment's flagship company, ALD Automotive is making progress on the very promising Chinese market.
>> SOGEPROM: a strong partnership policy
The Group’s property subsidiary has spent over 35 years developing a business in France across the different property markets.
>> Crédit du Nord is advertising on the Internet
From October to December 2009, the banks of Crédit du Nord Group are on the Internet to highlight their institutional and commercial advantages.
>> Societe Generale Group opens wealth management office in Bahrain
Societe Generale Group is further strengthening its wealth management activities in the Middle East with the creation of a new office in Bahrain under the brand Societe Generale Wealth Management.
- HUMAN RESOURCES
>> Mission Handicap launches its blog
Tousuniques.fr is a blog designed to make things happen and encourage exchanges about the initiatives of Mission Handicap Société Générale. Comment is free!
>> Employment Charter signed with Fontenay-sous-Bois
On 27 November, Anne Marion-Bouchacourt, Head of Group Human Resources, signed a Group Employment Charter with the Parisian suburb of Fontenay-sous-Bois. In an interview, she talks about the challenges of, and reasons behind, this partnership.
>> Charter for the insertion of the disabled
On 13 November, Société Générale signed a charter in favour of the professional insertion of disabled people with all the CAC 40 companies in the presence of Secretary of State for Family.
- OUR VALUES - INNOVATION
>> Information Classification and Protection: we are all responsible
With the increasing use of email, the Internet and networking, the loss, divulging or pirating of information represents a major risk for every company. The Group is therefore implementing a new Information Classification and Protection Policy (ICPP)
>> EQDOM helps children with their schooling
For the second consecutive year, Eqdom launched a charity operation devoted to kids at school. A partnership with the month of Ramadan and the beginning of the school year, aims to provide hundreds pairs of eyeglasses to underprivileged kids.
- ARTISTIC SPONSORSHIP
>> The Collection in Lyon and Tours
Until 15 February 2010 you can see some of the Collection’s works that have been lent to the fine arts museum in Lyon by Société Générale’s art patronage department. At the same time, the first exhibition devoted to Societe Generale’s Art Collection, is open at the Centre de Création Contemporaine in Tours.