Societe Generale has a large void across its debt capital markets (DCM) unit, following the resignation of its global head Sébastien Domanico, who parted ways with the lender, per a recent Reuters report.
Mr. Domanico had served as the Global head of Financial Institutions – DCM in Societe Generale’s Paris office for over six years. The entirety of his time with the lender was dedicated to this role, having joined the group back in 2010. Societe Generale, like many of its banking counterparts in Europe, i.e. Standard Chartered, Deutsche Bank, etc., have undergone radical changes to their management structure and personnel. However, back in late 2015, Societe Generale shuffled its financial institutions business.
Sébastien Domanico, Former DCM Head, Societe Generale
To date however, Societe Generale has abstained from this trend, outside of a restructuring of its London-based FX business back in 2014. As one of the few banks in the region to avoid wholesale job cuts and waning profit margins, Societe Generale has helped stay afloat, even bringing in a number of key appointees, including hires to its FX prime brokerage unit.
In terms of Mr. Domanico, which appears to be an isolated case and departure for the lender, he originally joined Societe Generale over six years ago from HSBC, where he worked as the European Head of DCM Financial Institutions for over three years.
Additional stops also include stints at BNP Paribas as its Head of Benelux DCM Financial Institutions, Debt Corporate Finance / Leveraged Finance at Bear Sterns, and a senior role in Corporate Finance & DCM France and Belgium at Barclays, dating back to 1999, according to information made public on his Linkedin profile.
