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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Société Générale    GLE   FR0000130809

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ROUNDUP: Views On Euromoney And The FX Industry -2-

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05/09/2012 | 11:45pm CET

"It's not a concern [on the competition from the biggest banks]. It would be a concern if we were setting ourselves unrealistic goals but I am confident we can compete across the product range. It is simply a case of changing perception and spending time raising our clients' awareness of all aspects of our offering."

"Increasing market share with our target clients should naturally be picked up more broadly in the surveys but there is a lag because our target audience and the audience of each individual survey is not always 100% one and the same. But it should absolutely mean that we head into the top 10 and higher in Euromoney over time."

SOCIETE GENERALE SA (>> SOCIETE GENERALE): Remaining steady in the rankings, Societe Generale predicts a "deep structural change" within FX markets, revealing an opportunity for smaller players in the field and shifting the focus from pricing alone to other client priorities.

2012: 13 (1.76%)

2011: 13 (1.84%)

Gian Luca Fetta, Global Head of FX at Societe Generale Corporate & Investment Banking:

"The market is undergoing a deep structural change, more so than most of the players would recognise and at a pace widely underestimated by the market. This trend is a complete reshuffling of the cards and will challenge the established leadership in the FX markets."

"It's the best opportunity for the smaller players in a long time to really enter this space and to be more present in those areas. The aggregate number is not so meaningful. You have to look at the position in different client segments and regions."

"Client focus is the heart and the key of our strategy and it comes with an advisory approach that is much more tailor-made."

"The trend toward increased transparency, price discovery and better access to liquidity for every player means one can less and less make the difference on pure pricing anymore."

"My strong belief is that the advisory approach will grant us a prime positioning going forward. We are investing alongside the rest of the industry and here are many improvements we have done this year."

- By Jessica Mead and Katie Martin, Dow Jones Newswires; 44 20 7842 9256; jessica.mead@dowjones.com; @djfxtrader

(Alexandra Fletcher and Laura Clarke contributed to this article.)

Stocks mentioned in the article : SOCIETE GENERALE
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Financials (€)
Sales 2016 25 103 M
EBIT 2016 8 041 M
Net income 2016 3 661 M
Debt 2016 -
Yield 2016 4,71%
P/E ratio 2016 10,31
P/E ratio 2017 10,59
Capi. / Sales 2016 1,53x
Capi. / Sales 2017 1,52x
Capitalization 38 346 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 44,6 €
Spread / Average Target -6,0%
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NameTitle
Frédéric Oudéa Chief Executive Officer & Director
Lorenzo Bini Smaghi Chairman
Philippe Heim Group Chief Financial Officer
Alain Benoist Head-Processes & Information Systems
Carlos Goncalves Head-Global Technology Services
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