what do you think about Societe Generale?
what do you think about Societe Generale?a acceptable place to do an internship and get into BB?
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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.
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.
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.
"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/10859.cntns
[quote=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/10859.cntns[/quote]
very nice. + 1for a good find
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?
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.
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.
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).
wtf is export finance
financing of cross border trade : for instance commodities shipping from point A to point B, cash advance on these operations, etc...
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.
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.
^lol @M&AO
so....how can i relate it to my investment banking career? it is the only internship i can get now.
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.
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
Similar to maq hsbc and rbc IMO
I would have loved to work in project finance or in export finance. Shame that my bank doesn't really do it.
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.
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.
what would you who have higher chance to win in an interview? me or a raymond james summer intern in U.S?
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.
Societe Generale Leveraged Finance (Originally Posted: 03/04/2013)
Does anyone know anything about this group/firm? I have an SA superday this week and was wondering if anyone has interned here previously. From my first round I gathered that it is a very small group (something like 2 MD/2 VP/2 Associate/ 3 Analyst).
I think that they only take on 1 or 2 interns and often times don't give return offers because they don't have the capacity to. Can anyone shed light on this? Thanks!
Btw, this is for NY
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.
Societe Generale internship advice (Originally Posted: 12/19/2012)
Does anyone have a idea how the summer investment banking internship at societe generale New York is like?
Have you seen their building?
Nope.
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 ;)
Oh man if my high school history lessons have taught me anything about the french....
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.
Societe Generale IB summer analyst (Americas) (Originally Posted: 02/16/2011)
Does anyone have any information about the structure within SocGen's IB division and what is expected of prospective summer analysts?
Also, any other important advice for this position.
There is a shit ton of different product groups. SAs would do the same thing SAs at other IBs would be doing....
Societe Generale Insight (Originally Posted: 02/12/2011)
First time poster here, WSO has been a great tool. I just hope this does not turn into a GOLDMAN OR BUST bashing thread. =)
I would like to know a bit more about SG in terms of the following. Any information would be very much appreciated and bananas will be thrown your way.
1). Although this is a big bank, I understand it may not have a huge presence. What category or title would this fall under (considering it is not a boutique or BB)
2) What could one be expecting compensation wise (relative to street) for the analyst level? And considering the presence may not be as large, how would hours be relative to other banks?
3) If anyone knows more info about the program please feel free to PM me, your help is much appreciated!!!
Additionally, I have searched the boards and know a bit about it but not regarding the topics above.
Any love/info?
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
they focus on emerging markets and have a huge presence in africa, asia, middle east
Sorry didnt mean to be pushy!
Any more info besides their strengths (hours pay etc) would be appreciated!
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.
Societe General - Insights? (Originally Posted: 12/27/2009)
Hi Guys,
I looked at the historical posts and didn't find very much information:
Anyone have insights on SocGen? How is their IB group (US) compared to other MM's? Which groups are more well known/better?
Any insight at all would be great, thanks in advance.
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.
hmm SocGen its so Piper Jaffray that I cannot write anything. that should give u a good idea.
So it's worse than Piper Jaffray?
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
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?
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
great explanation, thanks!
According to this report: http://news.efinancialcareers.com/fr-en/241100/top-tier-banks-by-sector/
THey are top notch (1st and 3rd) in Equity derivatives and in Future trading. Not in the top 5 in any others.
SocGen reputation (Originally Posted: 12/19/2007)
Hi I was wondering how's SocGen's reputation in S&T and future prospects? Do you think it'd be a good place to start your career and a place to stick around?
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
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.
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