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SocGen's Combative Trading Boss Takes On Establishment Rival

Slawomir Krupa and Sebastien Proto are potential candidates to replace CEO Oudea. They provide a fascinating snapshot of France’s banking establishment.

Societe Generale’s board is looking for a new boss.

Societe Generale’s board is looking for a new boss.

Photo: Bloomberg

Slawomir Krupa has been running Societe Generale SA’s investment bank from New York since becoming its boss in January 2021. It’s been a puzzling decision for some of his colleagues: Many of the French firm’s traders are thousands of miles away in Europe.

Now he may have a reason to return home. Frederic Oudea is stepping down as SocGen’s chief executive officer after 14 underwhelming years at the helm and Krupa is seen as one of the main internal candidates to take over. Sebastien Proto, who runs SocGen’s domestic retail bank, is his likeliest in-house rival.