Societe Generale is a financial services institution headquartered in France. They are the third largest investment bank in the Eurozone.
Key Dates
- 1870: 47 branches in France
- 1871: Opens London branch
- 1913: 122,000 shareholders
- 1945: Societe General nationalized
- 1973: Branch opens in Soviet Union
- 1987: Company is privatized
- 2002: Buys Morocco's Eqdom, one of many acquisitions to come in Africa; also buys Hertz
- 2004: Global Investment Management and Services (GIMS) introduced
- 2008: Bank loses $7.2 billion to fraudulent trader
Societe Generale Recent News
- Societe Generale: Newsroom
- Topix: Societe Generale
- The New York Times: French Bank Offers New Details on Fraud (January 27, 2008)
- "In a five-page document released Sunday, France's second-largest bank also sought to counter the notion that it had disrupted markets by hurriedly selling off the massive positions that Kerviel allegedly built up without authorization."
- International Herald Tribune: Société Générale loses $7 billion in trading fraud (January 24, 2008)
- New York Times: $7.1 Billion Fraud Uncovered at Société Générale - New York Times (January 24, 2008)
- BusinessWeek: Societe Generale uncovers massive fraud (January 24, 2008)