Société Générale to open two branches in DIFC
Dubai, December 5, 2007
The Dubai Financial Services Authority has granted Société Générale -- one of the largest financial services groups in the euro-zone-- licences to open two new branches in the Dubai International Financial Centre.
These two branches will act as a hub for Société Générale Group's various activities in the Middle East, the group said in a statement.
The first branch of Société Générale (Paris), will be dedicated to investment banking and the sale of financial products. Its CEO is Eric Faivre, who will also act as the Group's chief representative for the Middle East.
The second, a branch of Société Générale Bank & Trust (Luxembourg), will be dedicated to private banking activities in the region. Its CEO is Patrick Thiriet, Head of SG Private Banking for the Middle East.--TradeArabia News Service