One of the largest global investment banks that deals in foreign exchange and related electronic markets, Societe Generale (SocGen), headquartered in France and with 145,000 staff across 66 countries servicing 31 million clients, has announced the appointment of Frank Drouet as the new Head of Global Markets, replacing Daniel Fields who has decided to leave the bank, according to an official press release.
Mr. Fields left to pursue other opportunities, and Mr. Drouet’s appointment follows after his demonstrated success as Head of Global Markets in Asia Pacific for Societe Generale since 2012, made him an ideal candidate to replace Mr. Fields.
Mr. Drouet is a graduate of the Ecole Centrale Lille and has a Master’s degree from HEC, and brings extensive experience from across Societe Generale’s global trading divisions spanning a multi-decade career with senior roles for the company.
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A longtime member of the company’s staff, Mr. Drouet has been with the bank for nearly thirty years, after originally joining the group in 1990. He subsequently advanced across roles within the organization such as Basket Trading in Tokyo, and then Equity Options Market Making in Zurich, before transferring to Paris to become Head of Warrants Trading in 1996.
Mr. Drouet was then appointed as Head of Derivatives Trading in Hong Kong in 1997, and then moved to Tokyo as Head of Equity Derivatives in Asia in 2003, according to a profile description in the press release.
Extensive expertise in trading
Furthermore, Mr. Drouet became Head of Volatility Trading in Europe for the company’s Equity Derivatives business in Paris, and then returned to Asia in 2007 as Head of Equities and Derivatives based in Hong Kong, before his most recent position as Deputy Head of Global Markets for APAC in 2009 through yesterday. As part of his new role, effective immediately, he will report to Didier Valet, Head of Societe Generale Global Banking & Investor Solutions.
Mr. Valet commented regarding the news in the company’s press release: “I would like to thank Daniel Fields for his long term commitment in developing our markets activities in a sometimes difficult financial environment. Daniel has contributed to significantly transform our platform during the last three years, adapting it to new regulations and developing our client franchises. Frank Drouet‘s international experience and strong understanding of global markets businesses as well as his success in expanding the Asian market platform as Head of Global Markets in Asia Pacific, will be key assets to pursue the adaptation and development of our market activities.”