Societe Generale SA (GLE), France’s second-largest bank, said it created a unit to advise clients such as families on investments and raising capital.
Galeazzo Pecori Giraldi is head of private investment banking and will oversee executives covering Europe and the Middle East, the Paris-based bank said in an e-mailed statement today. Pecori Giraldi joined Societe Generale two years ago as vice chairman of the bank’s investment-banking committee and previously worked for Morgan Stanley.
Societe Generale reported an 89 percent decline in fourth- quarter profit on Feb. 16 as the investment bank posted a loss. The new unit will assist clients in mergers as well as investment strategies.
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