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Frederic Oudea CEO Societe Generale gone crazy: to look at acquisitions

By Amarendra Bhushan for CEOWORLD Magazine Updated:October 5, 2008

After a massive rogue trading scandal, French bank Societe Generale is ready to sail the boat and looking at new acquisitions chief executive Frederic Oudea says. “If there are possibilities for acquisitions at accessible prices, we will study them. We will also develop partnerships such as we have with La Poste (postal service) and Groupama (insurance firm), Societe Generale is the tenth (biggest) company on the CAC 40 and the sixth bank in the euro zone. It has the means to develop on its own, A merger with BNP Paribas would destroy value for the two banks and also for the entire French economy, Societe Generale is solid, profitable and has a comfortable cushion of capital..” he said.

In another news Société Générale Corporate & Investment Banking now offers its clients global coverage for equity research. The bank’s London and Paris based analysts are extending the fundamental, valuation-driven approach to equities on a global basis with the coverage of over 50 key US, Asian, Eastern European and Middle Eastern stocks to be rolled out in the coming months.

Investors are increasingly looking for global analysis to accommodate their investment appetite and gain a more indepth understanding of industry dynamics. As sector research is predominantly segmented according to geographical boundaries, Société Générale Corporate & Investment Banking sees an opportunity to provide its clients with seamless and coherent global sector research.

Frédéric Oudea
Chief Executive Officer

Date of birth: 1963

Educational background

Ecole Polytechnique
Ecole Nationale d’Administration

Since May 2008: Chief Executive Officer
March – May 2008: Deputy Chief Executive Officer
2003 – May 2008 : Chief Financial Officer
2002 : Deputy Chief Financial Officer of Société Générale Group
1998 – 2001: Head of Global Supervisory and Development of Equities
1995 – 1997 : Joined Société Générale
Deputy Head: Head of the bank’s Corporate Banking arm in London
1987 – 1995: Occupied a number of posts in the French senior civil service (Audit department of the Ministry of Finance, Ministry of Economy and Finance, the Budget ministry and in the Cabinet of the Ministry of Treasury and Communication).

Frederic Oudea has been the Chief Executive Officer of Societe Generale Group, since April 2008 and its subsidiary Societe Generale, since May 12, 2008. Mr. Oudéa served as Senior Executive Vice President Societe Generale Group, Deputy Chief Executive Officer until April 2008 and its Group Chief Financial Officer from 2003 to May 2008. Mr. Oudéa served as the Chief Executive Officer of Genfitec. He served as Deputy Chief Financial Officer of Société Générale Group since … 2002.

He served as the Head of Global Supervisory and Development of Equities from 1998 to 2001. He served as Deputy Head of Corporate Banking arm in London, from 1995 to 1997. From 1987 to 1995, Mr. Oudéa occupied a number of posts in the French senior civil service (Audit department of the Ministry of Finance, Ministry of Economy and Finance, the Budget ministry and in the Cabinet of the Ministry of Treasury and Communication). Mr. Oudéa served as Chairman of Genfitec. He has been a Director of Boursorama since November 29, 2002. He serves as a Director of Genebanque, genefinance, salvepar. Mr. Oudéa attended Ecole Polytechnique and Ecole Nationale d’Administration.

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