PARIS, March 24 France's Societe Generale
is seeking to make its top management structure leaner
to better answer its clients' needs, a spokeswoman for the bank
said on Friday.
The bank "confirms it considers the implementation of a new
simplified organisation," the spokeswoman said. It would
comprise about 15 business units and about 10 service units
reporting to senior management, she added.
Chief Executive Officer Frederic Oudea had told staff
internally on Tuesday about the plan.
By doing so, SocGen would remove the hierarchal layer of its
three group pillars (French Retail Banking, International Retail
Banking and Financial services, Corporate and Investment
Financial Communication for the group would still be made
under these three pillars, under the plan.
The internal change follows the appointment earlier this
year of Didier Valet as deputy CEO, with the goal of improving
(Reporting by Maya Nikolaeva and Julien Ponthus; Writing by
Mathieu Rosemain; editing by John Irish)