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SocGen Backs Russian Unit - Wall Street Journal

BY NOÉMIE BISSERBE IN PARIS AND JAMES MARSON IN MOSCOW

Société Générale SA Chief Executive Frédéric Oudéa said Thursday the French bank remains fully committed to its Russian affiliate Rosbank, even as the unit's chief was charged with bribery by Russian authorities.

Mr. Oudéa said he would wait for the results of the authorities' ongoing investigation before making comments on Wednesday's high-profile detention of Rosbank Chief Executive Vladimir Golubkov.

He said Rosbank is continuing to operate under the stewardship of the bank's chairman, Didier Hauguel, and remains a strategic asset for Société Générale.

"There is room for a bank like Société Générale in this country," said Mr. Oudéa in an ...

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Article Excerpt

BY NOÉMIE BISSERBE IN PARIS AND JAMES MARSON IN MOSCOW

Société Générale SA Chief Executive Frédéric Oudéa said Thursday the French bank remains fully committed to its Russian affiliate Rosbank, even as the unit's chief was charged with bribery by Russian authorities.

Mr. Oudéa said he would wait for the results of the authorities' ongoing investigation before making comments on Wednesday's high-profile detention of Rosbank Chief Executive Vladimir Golubkov.

He said Rosbank is continuing to operate under the stewardship of the bank's chairman, Didier Hauguel, and remains a strategic asset for Société Générale.

"There is room for a bank like Société Générale in this country," said Mr. Oudéa in an ...

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