Bloomberg Law
Dec. 10, 2021, 11:26 AM

SocGen CEO Takes Over Compliance After $2.6 Billion Fines (2)

Alexandre Rajbhandari
Alexandre Rajbhandari
Bloomberg News

Societe Generale SA Chief Executive Officer Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.

Oudea will take over the responsibilities from deputy CEO Diony Lebot, who has overseen remediation programs related to proceedings in the U.S., the bank said in a statement on Friday. Lebot will be in charge of the bank’s ESG policies and retain supervision of specialized financial services and the insurance units.

SocGen in 2018 agreed to pay $2.6 billion to settle several cases in ...