Societe Generale names new securities services head to replace 38-year veteran

Bruno Prigent will retire after 38 years with the French bank, with 27 of those in the securities services division.

By Jonathan Watkins
Societe Generale has said its head of Hong Kong, David Abitbol, will take over as the new head of securities services from the start of 2019.

Abitbol, the current CEO of Societe Generale’s Hong Kong branch, and COO for Asia Pacific, will replace long-serving, Bruno Prigent, who is set to retire.

Prigent had been with the bank 38 years, with 27 of those in the securities services division. He assumed the title of head of Societe Generale Securities Services (SGSS) in 2011.

Abitbol also boasts a long tenure at Societe Generale, joining in July 1997 and working his way up to a range of senior roles including business manager for global markets fixed income, global operations manager and global head of operations.

He will report to Séverin Cabannes, deputy chief executive officer, responsible for the bank’s global banking and investor solutions activities.

“I sincerely thank Bruno Prigent for his long-standing commitment to Societe Generale group and his outstanding contribution to the development of Securities Services business for many years. Bruno has significantly strengthened the business by adapting to the new regulations and technologies with the objective of always providing an enhanced service to our clients”, said Frédéric Oudéa, chief executive officer of Societe Generale.

 “The international experience of David Abitbol, his deep knowledge of financial markets and his expertise in post-trade operations will be key assets to pursue the development of our Securities Services business”.

Prigent joined the Societe Generale group in 1984 after working for four years as IT project manager for an IT services company.

He initially spent seven years with the general inspection division before moving to the securities services arm.

Prigent held roles including head of fund administration, head of depot bank, head of securities for institutional investors and deputy head of Societe Generale Securities Services.