Societe Generale has appointed Yann Garnier to head structured products sales in its global equities and derivatives solutions division. In a surprising move, Garnier takes over the role from Nicolas Reille and will be based in Hong Kong, reporting to Nicolas Miara-Godet, the global head of sales, and Frank Drouet, the Asia-Pacific division head.
Yann joins from SocGen's Paris office where he headed equity derivative sales for Eastern Europe, the Middle East and Africa. In the wake of a difficult year for structured products in 2008, he will focus on shaping the bank's offering for the new market conditions. "For 2009, we're going to work on three main ideas," he says. "Simplicity, transparency and liquidity."
Prior to his departure, Reille, Garnier's predecessor, was one of the most prominent structured products bankers in the region. The latest official line from SocGen is that he is "on leave", although the bank was earlier reported as saying that he "will pursue other opportunities within the bank and these will be communicated later".