Societe Generale Corporate & Investment Banking (SG CIB) has rejigged its global markets division following the departure in September of its head of sales Marc El Asmar. Effective from January 1, 2018, Yann Garnier (pictured) head of global markets, Asia Pacific, in Hong Kong, will act as head of sales for global markets. Garnier will report to Frank Drouet, head of global markets.
Garnier joined Societe Generale in Paris in 1998 as an equity derivatives marketer. He then held various positions as sales in the structured products and equity derivatives fields in Europe. He relocated to Hong Kong in 2009 to become head of structured products sales, global equities and derivatives solutions for Asia Pacific.
In July 2009, he was appointed head of sales for cross asset solutions for Asia Pacific, additionally becoming head of financial institutions & corporate fixed income and currencies flow sales in 2011. He was appointed head of global markets sales, Asia Pacific then deputy head of global markets Asia Pacific in 2015, and head of global markets for Asia Pacific since 2016 when he replaced Drouet who will lead the bank's global markets division.
The French bank has also appointed Jerome Niddam as head of global markets for Asia Pacific. Based in Hong-Kong, Niddam will replace Garnier in this role and will report to Hikaru Ogata, chief executive officer for Societe Generale in Asia Pacific, and to Drouet. This appointment has been submitted to the local regulator for validation.
Niddam was previously head of financial engineering, global markets, Asia Pacific since 2015. Niddam joined Societe Generale Paris in 2004 as a financial engineer in the equity derivatives department. He relocated to New York in 2006, before taking up the post of head of financial engineering for Japan in 2008. In 2011, he was appointed head of pricing and new products for cross asset solutions, Asia Pacific.
In addition, Albert Loo has been appointed deputy head of sales for global markets with a focus on digital & innovation. Based in Paris, Loo will report to Garnier.
Loo was formerly global head of sales for fixed income & currencies and co-head of cross asset sales since 2015. Loo began his career in 1991 at Societe Generale Corporate & Investment Banking as part of the IT team in charge of asset management accounting project. He was appointed head of middle office for interest rate derivatives in 1994 and took charge of the front office risk management of Europe & Asia in 1996.
In 1999, Loo joined the interest rate derivatives sales team responsible for French corporates and in 2001, he oversaw the French sales team for corporates & local authorities. In January 2006 Loo was appointed deputy head of European sales in interest rate derivatives. In 2007, he became global deputy head of interest rate & foreign exchange derivatives then global co-head of interest rate and forex derivatives sales for issuers in 2008. Loo was appointed co-global head of sales for fixed income & currencies in April 2012.
El Asmar a long serving equity derivatives sales executive parted ways with the French bank in September. Earlier this year, El Asmar appeared in the English High Court giving testimony in camera because of the risk of incrimination in a US criminal probe after the Libyan Investment Authority took legal action against the French bank. SG agreed to pay €963m in May 2017 to settle the legal dispute with the investment authority, with the two institutions releasing a joint statement.
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