Societe Generale (SocGen) has appointed Mathieu Vedrenne, head of Societe Generale Private Banking France, to its Group Management Committee.

He began his career in 1998 as a consultant at PwC before joining SocGen’s inspection department in 2001. He then joined the group strategy division in 2005.

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Between 2008 and 2011, he was chief of staff for Frédéric Oudéa, CEO of Societe Generale.

Furthermore, in 2012, he was appointed Deputy Chief Executive Officer of Societe Generale Private Banking Switzerland.

In 2016, he joined Societe Generale Private Banking France as Head of Wealth Management Solutions, before being appointed Commercial Director in 2017. He has been Head of Societe Generale Private Banking France since March 2019.

Other new appointments to the committee include:

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  • Tim Albertsen, as deputy chief executive officer of ALD Automotive and, as of 27 March 2020, as chief executive officer of ALD Automotive;
  • John Saffrett, as deputy chief executive officer of ALD Automotive;
  • Odile de Saivre, as deputy chief executive officer of Societe Generale Equipment Finance, and
  • Geoffroy Dallemagne, as global head of Permanent Control and Internal Control Coordination.

In addition, Gaelle Olivier joined the committee on 1 January 2020 as CEO of Societe Generale Asia Pacific.

Oudéa commented: “These appointments are part of our continuous process of strengthening the diversity and representativeness of the businesses in our management bodies, which, in my view, is a factor of equity and performance for the Group.”

The asset and wealth management business line of French banking group Societe Generale posted a net banking income of €947m in 2019, a rise of 1% from last year.

The figure is adjusted for the divestiture of the Private Banking business in Belgium to ABN Amro.

Private Banking’s assets under management reached €119bn at the end of December 2019, up 1% from the previous quarter. Inflows in the French domestic market are said to be “buoyant”.

Lyxor’s assets under management totalled €149bn as of 31 December 2019, an 8% increase from the September 2019 figure. The integration of Commerzbank assets contributed €17bn.