Departing SocGen Chairman Predicts Acquisitions in a Few Years

Lorenzo Bini Smaghi, whose tenure as chairman of Societe Generale SA ended on Wednesday, said he anticipates the lender will be involved in big deals in a few years.

“The restructuring is not fully over, I think it’s going to take a couple of years,” Bini Smaghi told Bloomberg Television when asked at what point the French lender would start thinking about substantial acquisitions.

Lorenzo Bini Smaghi

Photographer: Chris Ratcliffe/Bloomberg

“But the environment is changing, the valuation of banks has changed. So shareholders are starting to ask, ‘What’s next? Where is growth coming from?’” he said. “That’s where I think some consolidation and acquisitions ...