Investment Banking

Societe Generale chief executive Frédéric Oudéa to step down next year

Oudéa has been one of European banking’s longest-serving leaders

Board says it has confidence in its veteran boss to continue leading until his departure
Board says it has confidence in its veteran boss to continue leading until his departure Photo: Christophe Morin/Getty Images

Frédéric Oudéa, chief executive of French bank Societe Generale, is set to step down from the bank next year, calling time on one of the longest reigns of a major European bank.

Oudéa, who took charge of SocGen in 2008, will not seek re-election as chief executive in May 2023, the bank said in a statement. He announced the decision at the bank's annual general meeting held on 17 May.

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