Bloomberg News

SocGen Cut CIB’s Staff Bonus Pool by 44%, Chief Oudea Says

February 28, 2012

Feb. 16 (Bloomberg) -- Societe Generale SA reduced bonuses paid to its corporate- and investment-banking division’s staff for last year, Chief Executive Officer Frederic Oudea said.

“We cut the bonus pool of the SGCIB staff overall by something like 44 percent, in line of course with the results,” Oudea said in an interview on Bloomberg Television today.

Societe Generale, France’s second-largest bank, is based in Paris.

To contact the editor responsible for this story: Fabio Benedetti-Valentini at fabiobv@bloomberg.net


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