# Société Générale Private Banking: three points after the UBP deal > Société Générale Private Banking after selling the Swiss and UK banks to UBP: three points (France, Luxembourg, Monaco), a record €137bn, thresholds and FGDR/FGDL protection. Last modified: 2026-10-19T00:00:00.000Z Canonical: https://wiki.private.law/en/societe-generale-private-banking Publisher: wiki.private.law (https://wiki.private.law) Version: 2ceb7e3907c46f1ba47561b4aa2a2b4966a479195cc1d01fbf94b9827cb4fe7e Cite as: Société Générale Private Banking: three points after the UBP deal. wiki.private.law. https://wiki.private.law/en/societe-generale-private-banking. Version 2ceb7e3907c46f1ba47561b4aa2a2b4966a479195cc1d01fbf94b9827cb4fe7e. Topics: banking Jurisdictions: france, luxembourg, monaco Functional tags: private-banking, tier-1-global Product tags: bank, wealth-planning, investment, custody, lombard-credit, family-office Semantic tags: private-banking, tier-1-global, bank, wealth-planning, investment, custody, lombard-credit, family-office --- ## Concept **Société Générale Private Banking** is Société Générale's private bank after a perimeter cut: since 2025 it spans three points — France, Luxembourg and Monaco. **Type**: a private bank inside a universal group listed on Euronext Paris (GLE). In France it operates as Société Générale Private Banking France (22 centres), with the "Le 29H" format for UHNW clients; the asset-management company SG 29 Haussmann was renamed [Société Générale Investment Solutions](https://investmentsolutions.societegenerale.fr/fr/nous-connaitre-copy/) in 2025. The group is led by Slawomir Krupa; the unit is overseen by Deputy CEO Lubomira Rochet. ## History and evolution The international private bank was built from 1996–97 (Monaco in 1997); Hambros was acquired in 1998 and merged with Kleinwort Benson (2016) into Kleinwort Hambros. Krupa set the turn: on 5 August 2024 the group signed [exclusive agreements to sell to UBP](https://www.societegenerale.com/en/news/press-release/exclusive-agreements-sell-its-private-bankings-subsidiaries-united-kingdom-and-switzerland) the Swiss private bank and SG Kleinwort Hambros (~€900m, ~€25bn of assets) — completed in January and March 2025 respectively. The group stated its focus on **France, Luxembourg and Monaco**. Private-banking assets hit a record [€137bn at end-2025 (+9%)](https://www.societegenerale.com/sites/default/files/resultats-publication/en/2026-02/q4-2025-press-release-en.pdf); the first half of 2026 set another record, +10% year on year (secondary estimates put it around €145bn). > 🍓 Deposit protection: Société Générale SA (France) — [FGDR, €100,000](https://www.garantiedesdepots.fr/en); Société Générale Private Banking (Monaco) — the same FGDR under the Franco-Monegasque agreement; Société Générale Luxembourg — FGDL €100,000. Custody securities remain the client's property. ## Regulation - **ACPR / ECB** — Société Générale SA (France); - **CSSF** — Société Générale Luxembourg SA; - **CCAF** with ACPR prudential oversight — Société Générale Private Banking (Monaco), a Monegasque entity since 1997. ## Source of funds and compliance The group standard applies: identification, beneficial owners, documented [source of funds and source of wealth](https://wiki.private.law/source-of-funds), CRS/FATCA; in France 70–80% of management acts run on e-signature. No public enforcement specific to the remaining private-banking perimeter was identified for 2024–2026. > 💡 Prepare the source-of-wealth file in advance: sale of a business, dividends, inheritance. The mechanics are covered in the guide on [documenting source of funds](https://wiki.private.law/source-of-funds). ## Who it serves - **France**: per press interviews with the unit's head, gestion privée from €500k of financial assets, gestion de fortune from €2m, the "Le 29H" format for owner families above €25m invested (unofficial); - **non-residents with economic interests in France** — dedicated SGPB France teams; - **international clients** — booking in Luxembourg and Monaco; - clients who value structured products: SG is one of the largest issuers in the class, and the Luxembourg trading room is the network's centre of expertise. ## Services ### Wealth management - discretionary management via Société Générale Investment Solutions (France's first ISR-labelled mandate, 2021); - advisory, including the Synoé digital channel. ### Lending - [lombard loans](https://wiki.private.law/lombard-lending) and credit against unlisted securities; - luxury real-estate, yacht and jet financing — the Monaco niche. ### Investment products - structured products (centre of expertise: the Luxembourg trading room); - private markets; at group level, a private-debt fund with Brookfield (a €10bn target). ### Wealth planning - international wealth engineering (Luxembourg), philanthropy (Fondation 29 Haussmann), art advisory with auction-house partners. ## Entities and booking centres | Jurisdiction | Legal entity | Format and supervisor | Role for the client | | --- | --- | --- | --- | | France | SG Private Banking France (within Société Générale SA) | business line, ACPR/ECB | domestic market, 22 centres; teams for non-residents with French ties | | Luxembourg | Société Générale Luxembourg SA | bank, CSSF | international booking centre and structured-products hub | | Monaco | Société Générale Private Banking (Monaco) | Monegasque bank, CCAF/ACPR (since 1997) | UHNW clients, booking and luxury-asset financing | Exits: Switzerland and the UK/Channel Islands/Gibraltar (sold to UBP, 2025), the Bahamas (Deltec, 2016), Italy (left with the Swiss deal). The Belgium representative office reports to the Luxembourg entity. ## Strengths - a focused perimeter: France + Luxembourg + Monaco after the UBP sale; - structured products at the level of one of the world's largest issuers; - a strong French network for residents and non-residents with French ties; - record assets and inflows after the perimeter clean-up. ## Where it does not fit - clients needing this group's booking in Switzerland or London — sold to UBP (see the article on [UBP](https://wiki.private.law/ubp-union-bancaire-privee)); - those seeking published thresholds: figures come from interviews and reviews only; - clients in Asia and the Americas — no direct private banking there; - portfolios centred on crypto assets. SG Private Banking after the UBP deal is a compact Franco-Luxembourg-Monegasque house with record assets; its strength is structured products and French depth, its weakness is the absence of Swiss-British booking and public thresholds. ## Q/A ### Entry and geography ### What minimum capital does SG Private Banking require? Thresholds are not officially published. Per interviews with the French unit's head: gestion privée from €500k of financial assets, gestion de fortune from €2m, the "Le 29H" UHNW format from ~€25m invested. Reviews cite ~€1m for Luxembourg and Monaco. ### What remains at SG after the Swiss and UK sales? Three points: France (22 centres and the Le 29H format), Luxembourg (international booking and the structured-products hub) and Monaco (UHNW). Switzerland and Kleinwort Hambros went to UBP in January–March 2025 for ~€900m. ### What does the deposit guarantee cover? France and Monaco — FGDR €100,000; Luxembourg — FGDL €100,000. Custody securities remain the client's property and are returned to the owner in a bank failure. ### Structure ### Does SG 29 Haussmann still exist? Not as an asset-management brand: in 2025 it was renamed Société Générale Investment Solutions (France) and still runs the private bank's discretionary mandates. The client brand is Société Générale Private Banking France; "Le 29H" is the UHNW offer within it. ### Does SG accept non-residents without French ties? Yes, via Luxembourg — the group's international booking centre with international wealth-engineering teams. The French non-resident teams are geared to clients with economic interests in France. --- ## Similar articles - [British Atlantic Bank (NodaBank): Accounts, Deposits and Lending](https://wiki.private.law/en/nodabank) - [BNP Paribas Wealth Management: the Eurozone's private bank from Paris to Singapore](https://wiki.private.law/en/bnp-paribas-wealth-management) - [Indosuez Wealth Management: the consolidator from Crédit Agricole](https://wiki.private.law/en/indosuez-wealth-management) - [ODDO BHF: the Franco-German family bank with a dual centre](https://wiki.private.law/en/oddo-bhf) - [Banque de Luxembourg: the cooperative private bank with no entry threshold](https://wiki.private.law/en/banque-de-luxembourg) - [ABN AMRO Private Banking: MeesPierson, Bethmann HAL and Neuflize OBC](https://wiki.private.law/en/abn-amro-private-banking) --- Source: wiki.private.law — the private.law legal knowledge base. When quoting, cite the canonical page URL. 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