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Société Générale es una de las principales empresas europeas de servicios financieros, actividad que también se extiende a otras partes del mundo. Sus oficinas centrales se encuentran en Francia, en la zona de negocios de La Défense, al oeste de París. Sus dos principales divisiones son banca comercial (especialmente en Francia y Europa del Este) y banca de inversión (derivados financieros). Es uno de los bancos más antiguos de Francia.

El nombre original de Société Générale fue Société Générale pour favoriser le développement du commerce et de l'industrie en France (Sociedad General para favorecer el desarrollo del comercio y la industria en Francia).

[editar] Historia

[editar] 1864 - 1893

El banco fue fundado por un grupo de industriales y financieros el 4 de mayo de 1864, durante el Segundo Imperio francés, para ayudar al desarrollo del comercio y la industria en Francia. El primer presidente del banco fue el importante industrial Eugène Schneider (1805-1875) seguido por el escocés Edward Blount.

La empresa empezó a contratar empleados y establecer oficinas, dando covertura en Francia a un ritmo constante. En 1870, el banco tenía 15 sucursales en París y 32 en las provincias francesas. Se estableció una oficina permanente en Londres en 1871. Al principio, el banco utilizó sus propios recursos casi exclusivamente para sus actividades de banca y finanzas.

At the beginning, the bank used its own resources almost entirely for both financial and banking operations. In 1871, Société Générale moved into the public French issues market with a national debenture loan launched to cover the war indemnity stipulated in the Treaty of Frankfurt.

Entre 1971 y 1893, Francia pasó por un periodo de crisis económica marcado por la quiebra de varios bancos. La empresa continuó su crecimiento a un ritmo moderado y en 1889 poseía 148 oficinas bancarias, demostrando así la capacidad del grupo de resistir en condiciones económicas desfavorables.

[editar] 1894 - 1930

En 1984 el banco hizo cambios en su estructura, conformando una institución grande y moderna. Además de los depósitos de empresas y particulares, sus oficinas empezaron a suministrar créditos a corto plazo para la industria y los comerciantes. También comenzaron la colocación de acciones y la emisión de bonos en Francia y Rusia. La adquisición de participaciones se convirtió en una actividad más secundaria. La excelente salud financiera de la empresa le permitió expandir su estructura de accionistas. En 1895, Société Générale tenía 14.000 accionistas, en 1913 el número ya era de 122.000. Los años de guerra fueron difíciles y tuvieron serias consecuencias y supusieron la pérdida de los negocios en Rusia. Sin embargo, durante los años 20 Société Générale se convirtió en el banco líder en Francia: su red había crecido marcadamente desde 1890, con un número de oficinas que permitía la gran penetración en las provincias. El número de sucursales aumentó desde 1.005 en 1913 a 1.457 en 1933. Gracias al dinamismo de los miembros de la dirección adelantó a Crédit Lyonnais en depósitos y préstamos entre 1921 y 1928. Para satisfacer los requisitos de sus inversores, Société Générale creó una subsidiaria, Calif, especializada en créditos a medio plazo en 1928.

[editar] 1931 - 1945

Los años 30 fue otro periodo difícil. Debido al declive en los negocios en Francia y el extranjero, el banco se vio forzado a cerrar varias oficinas locales. En las vísperas de la segunda guerra mundial, el número de puntos de venta no era mucho mayor que en 1922. Sin embargo, Société Générale estuvo activo en la colocación de deuda pública emitida por el estado y las colonias. La guerra y la ocupación alemana interrumpieron su avance, pero el banco avanzó en los mercados africano y estadounidense.

[editar] 1945 - 1964

Société Générale was nationalised in 1945. It now had a single shareholder: the State. The period from 1945 to 1958 was characterised in France by rapid economic recovery but also a greater disequilibrium in the balance of payments, calling for continued exchange controls and virtually permanent credit control measures. It was not until 1959 that the economy really recovered, but credit controls were reinforced due to persistent inflationary pressures. Sharp growth in production and foreign trade opened up new areas of business for the banks. The industry underwent some quite radical changes, one of the most striking of which was much greater specialisation of credit. The range of banking services on offer expanded uninterruptedly. Thanks to its presence in New York, Société Générale was able to take advantage of the flow of business generated by the Marshall Plan. Société Générale continued to expand in France and elsewhere. It moved into Italy and Mexico and altered the status of its establishments in Africa after decolonisation, in accordance with the laws passed by these newly independent countries.

[editar] 1965 - 1990

Société Générale gave new impetus to its French network, with an acceleration in growth after 1966 following elimination of prior authorisation for opening branch offices. International expansion was just as vigorous. It was no longer limited, as before, to the main financial centres (London, New York), neighbouring countries (Belgium, Spain) and the former colonies, with the primary aim of facilitating the business of French firms, but was also aimed at guaranteeing the bank's presence where new markets were developing, either to export the technical expertise it had acquired in certain fields, or to keep up its contact with the multi-nationals. 1966 and 1967 represented a fundamental turning point in banking regulations, the main development being attenuation of the distinction between deposit and investment banking, and creation of the home mortgage market. Société Générale took advantage of this and acquired leading positions in some new financing techniques designed primarily for companies, such as finance leasing, setting up specialised credit subsidiaries for this purpose. The 1970s were characterised by two major developments: expansion of the international network and across-the-board introduction of IT facilities to cope with extension of the customer base and the development of deposit money. In 1971, the appearance of automatic cash machines crowned the success and development of the credit card. From the beginning of the 1980s, against a backdrop of deregulation and technological change, internationalisation of the markets and the emergence of new financial instruments, Société Générale set itself two commercial objectives. It focused increasingly on private customers via its network of branches and by acquiring specialised subsidiaries. It pursued and expanded its activities in the capital markets in France, and then, on a selective basis, in the different international financial centres. On 29 July 1987, Société Générale was privatised. It had been chosen from among the three leading French commercial banks nationalised in 1945 for its excellent risk-coverage, equity and productivity ratios.

[editar] Since 1991

In recent years, the Société Générale Group has focused on developing its activities around three core businesses through a combination of organic growth and acquisitions.

Retail Banking was strengthened in 1997 through the acquisition of Crédit du Nord, highlighting the Group's determination to capitalise on the restructuring of the French banking system. At the same time, Société Générale has looked to secure the long-term loyalty of its customers (launch of "one account number for life" and introduction of Jazz, a package of service offers). In 1999 it engaged in hostile takeover negotiations for the bank Paribas, but was outflanked by a competitor, the Banque Nationale de Paris (BNP).

In 1998, Société Générale set up Retail Banking outside France as a separate division, underscoring the Group's resolve to make this business one of its strategic development axes. This activity was also strengthened in 1999 through the acquisitions made in Romania (BRD - Groupe Société Générale), Bulgaria (Société Générale Expressbank) and Madagascar. This external growth strategy has been manifested through acquisitions in Central Europe (Komercni Banka in the Czech Republic and SKB Banka in Slovenia) in 2001. Africa is also a major area of interest for the bank, with the 2002 purchase of Eqdom in Morocco (the market leader in consumer lending) and Union International de Banque in Tunisia. In addition, 51% of SSB Bank in Ghana in 2003 and 50% of Geniki Bank in Greece in 2004 were acquired . In terms of specialized financial services, a department created in mid-2001, the purchase of two Deutsche Bank subsidiaries, ALD Automotive for multi-brand auto leasing and financing and GEFA for corporate sales financing enabled Société Générale to increase its European presence in these sectors. In 2002, it continued to pursue its external growth strategy by purchasing Hertz Lease, a European subsidiary specializing in long-term leasing and fleet management for Ford Motor Company vehicles.

With a track record as leader in France for financial savings products (mutual funds, investment funds, company savings plans), the Group has developed its Asset Management and Private Banking activities: in 1999, its subsidiary, Société Générale Asset Management, pursued the strategy of developing both its mutual fund management business in France and its activities aimed at major institutional investors at an international level. With the launch of Société Générale AM UK in London and the acquisition of Yamaichi in Japan, Société Générale Asset Management has taken a decisive step in establishing its international presence and is now able to offer its customers truly global fund management capabilities. Société Générale also has a worldwide presence in private banking activities. After pursuing a deliberate policy of acquisitions in 1998, Société Générale Private Banking consolidated and developed its franchise in 1999 against a backdrop of tougher competition.

During the 1st quarter 2004, the third branch of activity of the Société Générale Group, GIMS Global Investment Management and Services was created. In February 2004, Société Générale set up a new division named SG GSSI, Global Securities Services for Investors, which provides full investor services on securities and listed derivatives covered by the group around the world. SG GSSI is attached to the GIMS which regroups SG Asset Management, SG Private Banking and SG Global Securities Services for Investors. GIMS employs 7,600 people.

Société Générale is developing its Corporate and Investment Banking businesses under the SG CIB brand name, which was introduced by the Group in 1998. Bolstered by a sound client base and a recognised capacity for innovation borne out by the league tables (the Group is ranked among the global leaders in equity derivatives, convertible bonds, export finance, etc.), Société Générale is looking to develop its M&A, advisory and IPO activities through the acquisition of specialised firms (Hambros in the United Kingdom, Barr Devlin and Cowen in the United States).

French reporter Denis Robert and former #3 of Cedel Ernest Backes, have accused Société Générale of having non-published accounts in Clearstream, which is at the center of a financial scandal. The bank denied those accusations.

[editar] Actividad

Société Générale es el tercer banco de la zona euro por beneficios y la séptima mayor empresa por capitalización. Emplea a 103.000 personas, de las cuales 75.000 se encuentran en Europa y tiene presencia en 80 países. El banco está activo en los mercados de finanzas, inversión y dirección de activos. Además, en Francia, también tiene actividad en la banca minorista con más de 2.700 oficinas (incluyendo su división Crédit du Nord).

[editar] Dirección

Desde 1997, el presidente de Société Générale es Daniel Bouton.

[editar] See also

List of French companies
List of banks

[editar] External links

SG Group is selling SG Cowen in USA (summer 2006) http://www.cowen.com/

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