Deemed too cautious, Societe Generale's strategic plan disappoints the markets

A disappointment commensurate with expectations. Monday was a key day for Slawomir Krupa, the chief executive of Societe Generale since May: the one where he was to announce his strategy and stand out from his predecessor Frédéric Oudéa. The new leader actually detailed for nearly three hours his roadmap for the next three years, in front of a hundred investors and financial analysts gathered in the premises of the bank in London in the business district of Canary Wharf. A choice of city that was not insignificant, the leader wishing to present his strategy directly to the financial community.

But reconciliation with markets did not take place on Monday, with investors giving a frosty reception to the new strategic plan. On the Paris Stock Exchange, Societe Generale shares collapsed by more than 12%, which had not happened since the banking crisis in March. Analysts were disappointed by the cautious objectives of the plan...

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