With an overwhelming number of votes this year, Société Générale takes home the crown for Structured Products House of the Year.
Starting as a lender with a largely non-flow strategy, Société Générale has worked its way over the last six years to be a cross-asset house and a top provider of structured products to private banks in Asia. Thanks to a robust team of researchers and specialists, as well as an in-house culture of innovation and consistency, Société Générale has now crossed the finishing line first.
“Société Générale has historically been perceived as a non-flow house. Over the last six years, we have established ourselves to become a true cross-asset solution provider of global equities, credit, interest rates, commodity, forex exchange, index and fund-linked structured products,” said Edward Lee, the bank’s head of cross-asset solutions sales for private banks in Hong Kong and Singapore.
Société Générale’s cross-asset engineering team has 300-plus staff and adds to the bank’s value proposition by supporting the sales force, which is solely dedicated to servicing private banks in Asia, Lee added.
It prides itself in its technology investments that have allowed the bank to optimise efficiency while keeping pace with the high volumes of structured product distribution in Asia.
“We have invested heavily in our technology infrastructure. This includes our client friendly automation project last year which was a client-centric exercise focusing on pre-trade, trade and post-trade processing,” Lee noted.
In June, the first industry-backed consortium for structured product distribution to private banks, Contineo, was launched. Société Générale, along with Barclays, BNP Paribas,
Goldman Sachs, HSBC and J.P Morgan joined forces with technology firm AGDelta to form an open, multi-issuer network for flow structured products in Hong Kong and Singapore. The foresight of investing in the product platform has allowed Société Générale to stay ahead of the rapidly evolving structured products technology space in Asia.
Indeed, after what was a bumper period for structured products in Asia, with sales surging by over 20% since 2013, the market has had to withstand undulating macroeconomic conditions this year. 2015 saw structured products sales start on a high note, only to slip in the face of changing macroeconomic conditions.
Over the year, the market has had to deal with concerns like the looming likelihood of Greece leaving the eurozone, the devaluation of the yuan and the battering of Asian stock exchanges, and consequently, structured product houses have had to remain agile, receptive and reassuring.
Société Générale has done these and more, while maintaining a solid product offering and demonstrating clear dedication to its clients. As a result, gatekeepers at private banks in Asia have voted overwhelmingly to name Société Générale 2015’s Structured Products House of the Year.