The subsidiary, headed by Gerard de la Riviere, will initially focus on the development of corporate and investment banking activities.
Gerard de la Riviere reports to the chairman of SGSAR, Eric Wormser, group chief officer for the Middle East.
From a regulatory standpoint, this license allows the subsidiary to deal with all instruments defined by the CMA as securities, which comprise all capital markets products.
Established in the region since 1997, Societe Generale is active in the GCC countries. This new step will enable the bank to leverage its presence and accompany the development of its regional and international clients.
