After disappointing results in 2009 of Soci?t? G?n?rale, its CEO Frederick Oud?a knows waited. Both internally and externally. Vis-?-vis its troops, he has to take action. He unveiled a few days to key executives of the bank the outlines of a comprehensive transformation plan, dubbed "Ambition SG 2015" on which management has plate in the second half of last year.
Fifty sites have been identified, comprising four strands of work – customer relationships, image, operational efficiencies, staff. A strategic committee, chaired by the CEO, will meet every fortnight to confirm their advance."This is not a restructuring plan," warns the outset Severin Cabannes, deputy CEO, which states: "We expect and we adapt to changes in the environment."
A regulatory environment which strengthens capital requirements, requires the optimization of resources. It is no coincidence that, for the first time since the acquisition of Cr?dit du Nord in 1997, the bank plans to share its resources with regional gem. "We want to preserve the entrepreneurial spirit of the bank and we will associate with an industrial approach," says Severin Cabannes.
Another declared objective of the Societe Generale, the transition to a company focused on customer relations, as opposed to a counter which "push" of products.Same logic: the regulators, when calculating the liquidity needs of banks, will weigh the deposits according to the fidelity of goodwill. The challenge is even more crucial for a network that is still recovering Kerviel scandal and controversy surrounding stock options. So, at Societe Generale, a barometer of customer satisfaction is now one of the criteria for evaluating managers, next to the control of operational risk and the expense ratio on income.
Change Image
The most urgent projects such as the brand platform, the convergence of retail banking networks or approximation of systems have already been placed on the rails. "Changing the image of the bank is one of our priorities. We have already started work.The new ads end of 2010 will be marked by the change, "and warns Caroline Guillaumin, the new director of group communications.
The general direction of the Company asserts course very attentive to the additional stress involved in this challenge to its 160,000 employees. The trauma of France Telecom is in everyone's mind. "All projects will be accompanied by change experts. If we go more slowly, we'll go more slowly, "insists Severin Cabannes.
"We presented this business plan to the 1000 Ambassadors of the bank and 95% of them said they adhered to it. This shows a very strong support and I see a show real momentum around Frederick Oud?a "concluded Deputy CEO.Certainly, the bank needs to show it solidly behind his boss, when critics suggest instead a degree of uncertainty since the redesign of the staff. Vis-?-vis the outside, the long awaited day of 8 June investors will take stock of the strategy and financial outlook for 2012. The same day the trial begins Kerviel. A coincidence heavy.