Societe Generale Securities Services (SGSS) said that it will replace its long-serving CEO, Bruno Prigent, with David Abitbol, who currently serves as head of its Hong Kong branch.
SGSS says that the appointment will take effect in January 2019. Bruno will retire from the company after 38 years, 27 of which were with Societe Generale Securities Services.
Abitbol will be strengthening the SGSS’ product and will be tasked with managing the continued growth of the firm’s coverage universe, as well as leading the bank’s global investor solutions. He currently holds the role of COO at Societe Generale Asia Pacific and chief executive of Societe Generale Hong Kong office.
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David has been involved in the securities industry for nearly three decades and has been a mainstay at Societe Generale for more than 25 years, part of a career dating back to 1992. He started to work as an actuary within the finance department before joining the asset and liability division, where he was in charge of financial studies and funding operations.
He had a wide range of functions and roles over his tenure at the French lender, focusing mainly on banking operations. His roles included Business Manager for Global Markets Fixed Income and Global Head of Operations.
SGSS recently saw a number of new hires. Just one month ago, its securities unit appointed Mathieu Maurier as Country Head in Luxembourg and Gildas Le Treut as Head of Sales and Relationship Management.
Commenting on the appointment, Frédéric Oudéa, CEO of Societe Generale, said: “I sincerely thank Bruno Prigent for his long-standing commitment to Societe Generale group and his outstanding contribution to the development of Securities Services business for many years. Bruno has significantly strengthened the business by adapting to the new regulations and technologies with the objective of always providing an enhanced service to our clients. The international experience of David Abitbol, his deep knowledge of financial markets and his expertise in post-trade operations will be key assets to pursue the development of our Securities Services business”.