Societe Generale Private Banking Replaces Head Of Investment Strategy

Stephen Little

28 May 2014

has appointed Alan Mudie as its head of investment strategy, replacing Antoine Blouin, who will focus on his role as head of wealth management solutions, Switzerland.

The firm said in a statement that Mudie will be in charge of the private bank’s investment strategy team, responsible for determining the global investment policy.

Based in Geneva, Mudie is also chief investment officer of Societe Generale Private Banking (Suisse) and will be the entity’s spokesman on investment strategy issues.

Mudie has over 20 years investment strategy experience and joins from UBP in Switzerland, where he was CIO of private banking, following a period at Syz & Co, initially as CEO of Oyster Funds and then as head of the fund research department.

He previously held various positions during his 14 years at BNP Paribas,including CIO for BNP Paribas International Private Bank. He has also held high-level roles in other groups such as Crédit Agricole in London and Barclays Bank in Paris.

The appointment follows a massive restructuring of Societe Generale's business due to the fallout of the European sovereign debt crisis.

Like many of its rivals across the European banking industry, Societe Generale has been selling assets to improve profitability and bolster its balance sheet.

In March this year, DBS, Asia's biggest bank by assets, agreed to buy Societe Generale's Asian private banking business in a deal worth $220 million.

Last December, the bank was fined €446 million ($607.5 million) by the European Commission after an investigation into in the alleged rigging of the euro interbank offered rate.