Allons enfants de la SG!
|“There were no hired guns, and I think that was very important for the bank” Jean-Pierre Mustier|
Société Générale’s senior managers are, without exception, French, career-long employees of a company in which they have regularly switched between divisions and regions.
It’s a fact that many outsiders use to illustrate why SG cannot compete with other global players. But SG insiders see it as a strength of the institution, one that reflects the history and culture of the bank and gives it a unique identity that allows it to thrive in its chosen areas.
The career of Jean-Pierre Mustier, CEO of the corporate and investment bank, is a classic example of the SG lifer. He has the classic French academic background that is the backbone of the derivatives departments of investment banks – and not just French ones – with degrees in engineering from the Ecole Polytechnique and Ecole des Mines.