The French bank points to sustained investor appetite for convexity, systematic strategies and yield enhancement, alongside strong listed product volumes and continued expansion in investment solutions.
Société Générale has capitalised on sustained momentum in structured investment solutions across equity and fixed income markets in Europe, driven by demand for convexity, systematic approaches and yield enhancement in a shifting macro environment.
Product innovation today is increasingly about simplicity, robustness and efficiency, rather than complexity for its own sake - Fred Despagne
Fred Despagne, head of cross asset investment and financing solutions Emea and co-head of global market sales continental Europe in Paris, said the bank’s focus in 2025 was on building an integrated investment solutions platform designed to perform across market cycles.
He said the approach combines structuring expertise, broad market access and disciplined risk management, while remaining closely aligned with client demand.
“We do not take a one size fits all approach,” Despagne said. “We invest as much in highly bespoke solutions as we do in efficient, automated execution for more standardised strategies, ensuring consistency, scalability and relevance across client segments.”
The Société Générale team at the SRP Europe Awards 2026 in London on 17 March
According to Despagne, institutional demand remains particularly strong for convexity strategies in the current environment, with portfolio optimisation and risk management remaining key drivers of allocation decisions.
The bank has also seen continued momentum in repack structures and quantitative investment strategies, which Despagne said reflect “clients’ appetite for yield enhancement and systematic hedging”.
Wealth and distribution channels remain a central growth engine, particularly in Europe, where structured investment solutions continue to play an increasingly important role in portfolio construction across both equity and fixed income markets.
Market conditions in 2025 were characterised by gradual normalisation following a period of elevated uncertainty, with interest rates continuing to shape issuance trends and investor behaviour.
Despagne said equity autocallable volumes more than doubled in the second half of the year, supported by sustained demand for yield-oriented structures and stable execution across the franchise.
In listed structured products, Société Générale further consolidated its position in Europe, issuing more than one million products in 2025 and generating on average over 100,000 trades per day across 20 countries, reflecting what the bank described as deep liquidity and operational scale.
Systematic shift
Year to date 2026, Despagne said demand has remained resilient despite geopolitical uncertainty. He noted a continued shift towards systematic strategies, including QIS approaches, alongside renewed interest in fixed income solutions as rates and inflation concerns persist.
Several structural trends are also shaping the broader industry, according to Despagne, particularly around how products are designed and distributed.
He said innovation is increasingly focused on simplicity and efficiency rather than complexity. “Product innovation today is increasingly about simplicity, robustness and efficiency, rather than complexity for its own sake,” he said.
Digitalisation is also playing a growing role in improving distribution, lifecycle management and reporting, while ESG considerations are becoming more embedded in product design and governance frameworks.
Another notable trend is the expanding use of quantitative investment strategies, which are increasingly deployed both as standalone solutions and as underlyings for guaranteed annuity structures.
Within the firm, Despagne highlighted continued investment across client segments, geographies and product lines, aimed at improving consistency, scalability and client proximity.
He also pointed to increased investment in operational efficiency, governance and technology, which he said has improved time to market while maintaining risk discipline.
“Strong product governance frameworks and clear client communication are essential,” he said. “Clarity around methodologies, risks and expected behaviour across different market scenarios is now critical.
"We view the increased requirements around governance, transparency and client suitability, as an opportunity to further differentiate through quality and discipline, and as a driver to reinforce best practices across the industry.”
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