what do you think about Societe Generale?

goldman m's picture
Rank: Monkey | banana points 35

what do you think about Societe Generale?a acceptable place to do an internship and get into BB?

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

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

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.

Learn More

7,548 questions across 469 investment banks. The WSO Investment Banking Interview Prep Course has everything you'll ever need to start your career on Wall Street. Technical, Behavioral and Networking Courses + 2 Bonus Modules. Learn more.

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.

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

SocGen has a good reputation in Equities in Europe (it's not UBS though), and in the Euro Capital markets (one of the first bookrunner in Euro bonds). Where they are the best is of course in Equity Derivatives, especially in structured products

Jul 6, 2017

for undergrad they like engineers, math majors, stats majors, etc.

Jul 6, 2017

Yea definitely agree with McMo, they hire everybody from the top engineering schools in France. If you want to work in M&A for them though, I am sure a high school diploma would be enough (in other words they are not tip top in that domain)

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

- My ex girlfriend