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          SocGen Reshuffles Management, Deputy CEO Severin Cabannes to Step Down

          French banking giant Société Générale, popularly known as SocGen, is making major changes to its senior management following two consecutive quarterly losses.

          As announced earlier today, the bank’s deputy chief executive, Severin Cabannes, will retire by the end of this year.

          Currently, he is overseeing SocGen’s investment banking division.

          In 2001, he joined the bank and rose to the most senior position by 2018, after spending years in the bank’s control functions.

          Another deputy CEO, Philippe Heim, who was in charge of international markets, has also stepped down from his position.

          Concurrently, the third-largest French bank is reducing its four deputy CEO roles to only two positions.

          Thus, the bank is creating new deputy general manager roles.

          Distribution of Major Responsibilities Within the Bank

          Apart from the cuts, Slawomir Krupa, who currently heads SocGen’s global banking and investor solutions i