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Wall Street Firms Approach SocGen to Manage Russia Transactions

  • French lender operates in Russia through its Rosbank unit
  • Goldman Sachs, Citigroup also have some operations in Russia
Societe Generale headquarters in Paris.

Societe Generale headquarters in Paris.

Photographer: Balint Porneczi/Bloomberg

Wall Street banks are approaching Societe Generale SA to see if the French lender could help manage financial transactions involving Russia if the nation is hit with sanctions relating to the tensions over Ukraine.

Speaking during an internal town hall with Asia Pacific staff on Friday, SocGen Chief Executive Officer Frederic Oudea said the firm has “large U.S. and international banks that are coming to us, to see whether we can do their business of clearing and corresponding banking for them.”