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SOCIETE GENERALE : SOCIETE GENERALE: NEW PHASE IN THE TRANSFORMATION: ORGANISATION CHANGES & APPOINTMENTS

    SOCIETE GENERALE : SOCIETE GENERALE: NEW PHASE IN THE TRANSFORMATION:
                     ORGANISATION CHANGES & APPOINTMENTS

Paris, 13 February 2013
NEW PHASE IN THE TRANSFORMATION: ORGANISATION CHANGES & APPOINTMENTS

After taking  a  decisive step  in  its  transformation in  2012,  with  major 
progress in building up its financial solidity, Societe Generale is entering a
new phase of its Ambition SG 2015 programme to reinforce its universal banking
model, centred on three  pillars of excellence, and  continue to adapt to  the 
new economic and  regulatory situation  and the changing  expectations of  its 
clients. The  Group  thus  plans  to reinforce  its  organisation  by  further 
refocusing on its core businesses and simplifying its operating structures and
methods.

Organisational project: to improve commercial and operational efficiency

The new organisational structure  will stand on the  three core businesses  on 
which the Group has solid franchises and a recognised expertise, and on  which 
the Group intends to maximise synergies at the service of its clients:

  *a French Retail Banking  pillar, which covers  the current scope  (Societe 
    Generale's French Network, Crédit du Nord, Boursorama).

  *a new International Retail Banking  and Financial Services pillar  created 
    by the  combination of  International Networks  and Specialised  Financial 
    Services and Insurance, the  aim of which is  to improve synergies  across 
    countries and simplify the supervision.

  *a new  pillar  encompassing Corporate  &  Investment Banking  and  Private 
    Banking, Global Investment Management Services, with a view to  developing 
    commercial and operational efficiency, specifically  in terms of the  flow 
    business, with improved  coordination of execution,  clearing and  custody 
    activities performed by SGCIB, Newedge and SGSS.

In addition, the Group relies on strong monitoring and control functions  that 
will need to adapt to the challenges of greater efficiency, simplification and
agility.

There will be  review processes to  define the target  organisations for  each 
entity in the weeks to come.  The organisation proposals will be addressed  in 
the framework of an enhanced employee dialogue in keeping with agreements with
trade unions and the procedures for consulting with worker councils.

Commenting on  the proposed  organisation, Frédéric  Oudéa, Chairman  and  CEO 
said: "As  we begin  2013  with this  second phase  of  our Ambition  SG  2015 
programme, we are taking a new step in the transformation of the Group and its
businesses. Our  primary  objective will  be  to make  our  organisation  more 
efficient and flexible, so that we can  deliver on our promise to our  clients 
to be  the  best  relationship  bank, under  optimal  profitability  and  risk 
conditions, and  thus  position Societe  Generale  among the  strong  European 
universal banks in the new economic and regulatory environment."

Appointments

The general management team  composed of Frédéric Oudéa  and the three  Deputy 
Chief Executive  Officers,  Séverin Cabannes,  Jean-François  Sammarcelli  and 
Bernando Sanchez-Incera will continue to work together under the authority  of 
the Chairman and CEO. They will retain their current scope of supervision over
the business  lines.  Séverin  Cabannes  will  also  be  responsible  for  the 
supervision of the Group's transformation.

With regard to the appointment for the proposed new business pillars:

-  Didier   Hauguel   and   Jean-Luc  Parer   will   jointly   assume 
responsibility for the new International Retail Banking and Financial Services
division that will be created.

- Didier Valet will be in charge of the new division that will be the
result of  pooling the  Corporate &  Investment Banking  and Private  Banking, 
Global Investment Management Service activities.

In addition, Philippe Heim has been appointed Group Chief Financial Officer as
of 1  March  2013. William  Kadouch-Chassaing  replaces him  as  Deputy  Chief 
Financial Officer and Head of Group Strategy.

Jacques Ripoll, Head of Global Investment Management and Services, has decided
to pursue  his career  outside the  Group. Frédéric  Oudéa together  with  the 
general management team thank him for his action within the Group and  notably 
his decisive contribution  to the improvement  of his division's  performance, 
and they wish him plenty of success in his new projects.

                                  *  *  *

Biographies

Philippe Heim was Deputy  Financial Officer since March  2012 and Head of  the 
Group Strategy since 2009. He  began his career in  1997 at the French  Budget 
Ministry, where he  held a number  of posts before  being appointed as  Deputy 
Trade commissioner  at  the French  Embassy  in  Singapore. In  2003,  he  was 
appointed technical advisor  to Mr. Francis  Mer, the French  Minister of  the 
Economy, Finance and Industry.  In 2004, he became  the budget advisor to  Mr. 
Nicolas Sarkozy, the Minister of the Economy, Finance and Industry, and  later 
the same year he was appointed the Head of Cabinet of Mr. Jean-François  Copé, 
Minister for Budget and  Government Spokesman. He  joined Societe Generale  in 
2007 as  a  senior bank  before  being appointed  in  2009 as  Head  of  Group 
Strategy. Philippe Heim is a graduate of the National School of Administration
(ENA), the Paris School of Management (ESCP Europe) and of the Paris Institute
of Political Studies (Sciences Po).

William Kadouch-Chassaing joined  Societe Generale  is 2007  as Senior  Banker 
within Societe  Generale  Corporate  &  Investment Banking,  in  charge  of  a 
portfolio of  French and  Belgium  corporates. He  started  his career  as  an 
academic (History  and Economics)  and  a public  servant, before  joining  JP 
Morgan in 1996,  as a market  economist and strategist,  then joining the  M&A 
department in 1998, in Paris and London.
William  Kadouch-Chassaing  graduated  from   the  Ecole  Normale   Supérieure 
(Humanities), from  the  Institut  d'Etudes  Politiques  in  Paris,  from  the 
Fondation Nationale des Sciences Politiques and the Sorbonne University, where
he focused his research  on contemporary history. He  was awarded the rank  of 
professor of economics and social sciences.

Other biographies are available on request at the press office.

Societe Generale

Societe Generale is  one of the  leading financial service  groups in  Europe. 
With its diversified banking model, the Group combines financial solidity  and 
a   sustainable   growth   strategy   with   the   ambition   of   being   the 
relationship-focused bank, a leader  in its markets,  close to its  customers, 
and recognised for the quality and the commitment of its teams.

The Group has over 160,000 employees across 77 countries, who serve more  than 
33 million customers across the globe. Societe Generale's teams offer advisory
and other services to individual customers, companies and institutions as part
of three main business lines:

  *Retail Banking in France  under the Societe Generale,  Credit du Nord  and 
    Boursorama brands; 

  *International Retail  Banking, which  is present  in Central  and  Eastern 
    Europe, Russia, the Mediterranean Basin,  Sub-Saharan Africa, Asia and  in 
    the French Overseas territories;

  *Corporate and  Investment Banking  with its  broad range  of expertise  in 
    investment banking, finance and market activities.

Societe Generale  is also  a major  player in  the businesses  of  Specialised 
Financial Services  and  Insurance,  and Private  Banking,  Global  Investment 
Management and Services. 

Societe General is included in the FTSE4Good and ASPI  sustainable-development 
indexes.

For  more  information,  follow  us  on  Twitter  @societegenerale  or   visit 
www.societegenerale.com.

ORGANISATION CHANGES & APPOINTMENTS

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Source: SOCIETE GENERALE via Thomson Reuters ONE
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