Comments (56)

Jun 22, 2010

Definitely. They are huge internationally in commercial and retail banking, but still a top 25 shop. They would probably be healthier if not for Kerviel.

Jun 22, 2010

They are supposedly expanding their M&A team in Europe.
They announced they would hire many senior M&A guys about a year ago, but I don't know if it actually happened.

Also, I used to have a colleague that had worked there (in the emerging markets M&A team in Paris I think) and she said it sucked.

Jun 22, 2010

They want to be a strong player in M&A in a near future.
They hired Thierry D'argent, former head of M&A France at JPM. He brought his desk along and he planned (or hired i don't know) various recruitments.
Currently, SocGen is good for ECM / DCM / Loans syndics / Structured Finance but they're putting money on the table to hire top execs in their M&A teams.

Jun 22, 2010

"The Wall Street Journal's Deal Journal reports that Societe Generale Corporate & Investment Bank is looking to hire up to 1,200 front-office and client facing staff over the next 3 years."

"A SG source has told Here Is The City that the 1,200 new hire target is accurate, although the only specific details available at present are that the bank will beef up fixed income front office by 200 and investment banking by the same amount in the next 3 years."

http://news.hereisthecity.com/news/business_news/1...

"Whenever I'm about to do something, I think, 'Would an idiot do that?' And if they would, I do NOT do that thing."
-Dwight Schrute, "The Office"-

Jun 22, 2010
BespokeAnalyst2010:

"The Wall Street Journal's Deal Journal reports that Societe Generale Corporate & Investment Bank is looking to hire up to 1,200 front-office and client facing staff over the next 3 years."

"A SG source has told Here Is The City that the 1,200 new hire target is accurate, although the only specific details available at present are that the bank will beef up fixed income front office by 200 and investment banking by the same amount in the next 3 years."

http://news.hereisthecity.com/news/business_news/1...

very nice. + 1for a good find

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Jun 22, 2010

but i'm not in their M&A team. I'm working for the Export Finance Team, under corporate finance and investment banking structure. Is Societe Generale a well-known bank in North America? btw, i'm interning in China, how much value it can add to my resume under this scenario?

Jun 22, 2010

SG is better known as a powerhouse in equity derivatives, that's the capital markets side of the business....
Then, in pure investment banking, they are not bad in M&A in Europe and are really willing to build up a strong franchise after they realized they were too focused on capital markets (kerviel, Madoff, etc...).

It's not a Lazard, Rothschild or big US franchise, so no huge brand attractiveness on that business part but at least you are sure there is only upside potential.
From my perspective (I'm french), SG always put the means needed to reach their target.

Jun 23, 2010

May I ask which city in China? Standalone foreign banks are not allowed to do investment banking business in mainland unless it's a venture with a domestic securities firm (See GSGH, UBSS etc). Therefore I suspect your role will be in commercial banking, and from the name "Export Finance" the first thing goes into my mind is trade financing which is definitely commercial banking role that deals with L/C and stuff. Is this the case? If so it really provides minimal added value for your BB applications.

Jun 22, 2010

SGCIB is a global leader in export finance with recognized expertise in 23 export credit programs. The business line has strong presence in Asia with dedicated teams in Hong Kong, Beijing, Seoul, Tokyo, India and Vietnam.

The bank is the first foreign bank to arrange Chinese ECA financing with the support of Sinosure. With 16 deals signed, SGCIB has the most extensive experience and largest track record with Sinosure. We are also a leader in the Korean ECA market with over 30 deals signed. SGCIB is a pioneer in arranging shipping transactions with the support of KEIC (Korea) and JBIC/NEXI (Japan).

Jun 23, 2010

wtf is export finance

Jun 22, 2010

financing of cross border trade : for instance commodities shipping from point A to point B, cash advance on these operations, etc...

Jun 22, 2010

LOL WSO should be called M&AO ;)

The Export Finance department delivers financing solutions, risk coverage and advisory services related to import or export contracts whose underlying assets are capital goods, equipment and/or services to companies and financial institutions around the world.

Jun 23, 2010

Export Finance group would be one or two steps up from plain vanilla trade finance/commercial banking as it deals with underwriting major ECA-backed deals (usually infra, energy, transportation) which may or may not have a structured finance component (asset-backed etc). Look at major recent deals backed by Chinese ECAs to get an idea what transactions you would work on. Depending on the deal/structure you could get some exposure to modeling which would be useful in the future.

Jun 23, 2010

^lol @M&AO

Jun 22, 2010

so....how can i relate it to my investment banking career? it is the only internship i can get now.

Jun 23, 2010

so... why are you asking this question if you have no other choices?

just make the most of what you have while you have it.

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Jun 22, 2010

What I can tell you is that Export Finance is within Global Finance, which includes ECM / DCM / Leverage & Non investment grade Finance / Strategic & Acquisition Finance / Media & Telecom Finance / Ship & Aircraft Finance & other Structured Finance departments.
Another thing to know, SocGen's former Graduate analysts in Investment Banking had to choose three rotations among Structured Fi / Capital Markets & M&A, so you would be able to justify your internship in a way or another

Jun 23, 2010

Similar to maq hsbc and rbc IMO

Jun 23, 2010

I would have loved to work in project finance or in export finance. Shame that my bank doesn't really do it.

Just my 2c.

Jun 24, 2010

SG is a "good" M&A shop in France but def insignificant in US. They are far away from being a M&A bank, their money is in their Equity Derivatives group where all the "Math Nerds" work.

    • 1
Jun 24, 2010

Any finance position at a reputable firm would definitely help you with FT recruiting with the BB banks. Soc Gen, and the large foreign banks (BNP Paribas, Mizuho, Nomura, etc.) are well respected by actual bankers when they conduct FT interviews. The same goes for well-known MM and boutique banks. Every year you hear of interns at Jefferies getting offers at GS. And no, I have never worked for Jefferies.

Jun 22, 2010

what would you who have higher chance to win in an interview? me or a raymond james summer intern in U.S?

Feb 16, 2011

Kids - do you think the glass ceiling is really an issue at the stage you're at in your career? Methinks not.

SG is puzzling... HSBC tried and failed to become an investment banking powerhouse; Credit Agricole was supposed to push into advisory / M&A and failed. Barcap was going nowhere fast but Lehmans purchase in the US has given it the impetus it needed. So jury's out.

Feb 16, 2011

Btw, this is for NY

Feb 16, 2011

You can expect the firm to have a French culture - aka very laid back, slow, and bogged down by processes. French firms don't typically give too many return offers due to the way they work - what happens for interns is that they hire VIEs from France, who are basically extended (often a year or so) interns, so they always take first priority.

Don't expect to move up the ranks unless you're French. I know it's a very bleak outlook but it's the truth and I have firsthand experience in the matter. Though, if you're looking for a stepping stone, it's a good choice since SocGen is decently well known.

Feb 16, 2011

Have you seen their building?

Feb 16, 2011

Nope.

Feb 16, 2011

If you have nothing else, then you should go. However, I believe a summer job as a janitor would be better regarded in the street ;)

    • 1
Feb 16, 2011

Oh man if my high school history lessons have taught me anything about the french....

Feb 16, 2011

It's regarded that poorly? It's my last resort but my plan was to do that this summer if I have too and than use that as a resume builder for Goldman or Morgan Stanley for the fall.

Feb 16, 2011

There is a shit ton of different product groups. SAs would do the same thing SAs at other IBs would be doing....

Feb 16, 2011

Additionally, I have searched the boards and know a bit about it but not regarding the topics above.

Feb 16, 2011

Any love/info?

Feb 16, 2011

you posted on a saturday night dude relax... you aren't an Associate giving orders to your analyst relax you will get your answers soon enough

The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee

WSO is not your personal search function.

Feb 16, 2011

they focus on emerging markets and have a huge presence in africa, asia, middle east

Feb 16, 2011

Sorry didnt mean to be pushy!

Any more info besides their strengths (hours pay etc) would be appreciated!

Feb 16, 2011

In the US, they run almost all their operations out of NYC. They're a big bank internationally, but in the US, you can consider them an MM bank, since those are the deals they compete for.

Pay is in line with street. 1st year Analyst pay is 70k, with 10 for signing. Hours are what you'd typically expect from any other bank on the street. It's not easy street, but it's not Moelis-level sweatshop either.

Jun 23, 2010

whenever i ask, people make fun of it. same with search, i only found a topic about how its a bad bank. I would say below the general known MM's like HLHZ/Jefferies.

Feb 16, 2011

hmm SocGen
its so Piper Jaffray that I cannot write anything.
that should give u a good idea.

    • 1
Feb 16, 2011

So it's worse than Piper Jaffray?

Jun 22, 2010

It's main activities are in Europe. Their presence in the USA is not significant in IB (maybe just ECM DCM in Euro currency). They're better in S&T

Jun 23, 2010

thanks for a more substantive contribution

maybe this should be asked in a different thread but I'm really confused on group names: DCM, lev fin, loan syndication --> are these three things all talking about the same thing? lev fin being HY and loan syndication being HG, DCM being the overall activity?

Jun 22, 2010

In fact, there is a group called Global Finance.
In that group you find
Capital Market Finance (CMF)
Client Management Unit (CMU)
Emerging Markets, Environment and Sustainable Development (EME)
Export Finance (EXT)
Flow Banking Services (FBS)
Global Capital Markets (GCM) (ECM & DCM)
Infrastructure & Asset Based Finance (IAB)
Interest Rates & Forex Derivatives (IFD)
Leveraged & Non Investment Grade Finance (LNI)
Natural Resources & Energy Finance (NAT)
Real Estate & Lodging Finance (REL)
Strategic & Acquisition Finance (SAF)
Syndication (SYN)
WOK (WOK)

This is how it is structured in France at least. It may be different in the rest of the world however, DCM is for investment grade bonds, LNI for High yield
Loan syndication is something completly different since they lend the money of the bank. They don't raise equity or issue debt in the market like ECM, DCM, LNI

    • 1
Jun 23, 2010

great explanation, thanks!

Jul 6, 2017

According to this report: http://news.efinancialcareers.com/fr-en/241100/top...
THey are top notch (1st and 3rd) in Equity derivatives and in Future trading. Not in the top 5 in any others.

Jul 6, 2017

If you want to trade derivatives or structure them go to SocGen, or BNP. Nobody beats the French in derivatives, switching to another company after SocGen will be a piece of cake.

Remember, you will always be a salesman, no matter how fancy your title is.

- My ex girlfriend

Jul 6, 2017

When I was looking to move to the debt world their rep came out as second to none. In terms of Equities strong in France but not really a player anywhere else.

Jul 6, 2017
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