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SocieteGenerale appoints new Group Country Heads in Canada, Brazil and Mexico

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SocieteGenerale appoints new Group Country Heads in Canada, Brazil and Mexico

SocieteGenerale is pleased to announce it has appointed new Group Country Heads in Canada, Brazil and Mexico:

  • Francis Repka is appointed Chief Country Officer for SocieteGenerale in Canada effective May 1, 2018* reporting to Slawomir Krupa, CEO, SG Americas.

He is replacing Pierre Matuszewski, an executive for SocieteGenerale in Canada for the past 20 years, nine of which as Country manager. Mr. Matuszewski is retiring from the Bank.

Mr. Repka was previously Chief Country Officer for Brazil, a position he had held since May 2012. Prior to that, he was Chief Country Officer for SocieteGenerale Corporate & Investment Banking in Germany. He has also held positions with the Bank in Hong Kong and Paris.

  • Luis Sainz is appointed Chief Country Officer for Brazil, replacing Francis Repka in this role effective August 1, 2018*. In the interim, Brazil COO Vincent Chardot will assume the role of acting Chief Country Officer for Brazil.

Mr. Sainz was previously Country Head for SocieteGenerale in Mexico, a position he has held since October 2010. He first joined SocieteGenerale as part of the Corporate Finance team in Dallas, Texas and has also worked with the Bank in New York and Paris. He will report directly to Slawomir Krupa.

  • Jose Antonio Merigo, who has been with SocieteGenerale in Mexico since 2014, is replacing Mr. Sainz as Country Head for SocieteGenerale in Mexico effective July 1, 2018. Mr. Merigo will report to Guido van Hauwermeiren, Head of Coverage and Investment Banking, Americas.

Subject to necessary approvals from the respective immigration offices and local regulators

Biographies

Francis Repka joined SocieteGenerale Corporate & Investment Banking in 1986 focusing on trading options and derivatives as a member of the interest rate products team. From 1989 to 1993, he was Head of the Structured Products Group and was responsible for setting up the group to develop tailor-made and client driven solutions. In 1993, he was appointed Head of Global Fixed Income, Emerging Markets for SocieteGenerale Corporate & Investment Banking and from 2001 to 2008, he was based in Hong Kong where he was responsible for treasury, fixed income, currencies and commodities derivatives in Asia. Mr. Repka was named Chief Country Officer for SocieteGenerale Corporate & Investment Banking in Germany in 2008 and was appointed Group Chief Country Officer for Brazil in 2012. Prior to joining SocieteGenerale, he was a Commercial Attaché to the French Embassy in Jeddah, Saudi Arabia from 1983 to 1985. He was Associate Professor at Paris IX University from 1986 until 1993.

Luis Sainz first joined SocieteGenerale in 1996 as part of the Corporate Finance team in Dallas, Texas and in 1998 moved to the New York office. He left SocieteGenerale in 2000 and moved to Chicago to create and run CommonStream, a B2B company that developed purchasing/sourcing solutions through an electronic marketplace for municipalities in charge of water treatment services across the U.S. Mr. Sainz rejoined SocieteGenerale in 2001 as a member of the European Leverage Finance team based in Paris where he spent three years as a Managing Director in charge of larger LBO financings and restructurings. He was named Country Head for SocieteGeneraleinMexico in 2010.

Jose AntoinioMerigo joined SocieteGenerale in 2014 in Mexico. Prior to joining SocieteGenerale, he worked for eight years at Barclays Capital Mexico as Director of Investment Banking responsible for launching the bank’s local investment banking effort, covering Corporations, Financial Institutions and government entities. Prior to joining Barclays, Mr. Merigo was Managing Director & Head of the Corporate Banking Division of Grupo Financiero Santander Mexico. Previously, he held several senior positions in firms such as TD Securities, Bank of America and Ixe Grupo Financiero.

SocieteGenerale

SocieteGenerale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth, aiming to be the trusted partner for its clients, committed to the positive transformations of society and the economy.

Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, SocieteGenerale has over 147,000 members of staff in 67 countries and supports on a daily basis 31 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:

  • French Retail Banking, which encompasses the SocieteGenerale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
  • International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
  • Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.

SocieteGenerale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index.

SOURCE SocieteGenerale

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Duo glide around world’s largest fountain in Dubai

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Duo glide around world's largest fountain in Dubai 1

Paragliders Llorens and Goberna take magical flight above the Palm Fountain.

Horacio Llorens and Rafael Goberna defied gravity to perform The Breaking Pointe flight around the world’s biggest fountain at The Pointe, Palm Jumeirah in Dubai. Here is all you need to know:

– Spaniard Llorens is a five-time world champion and Infinity Tumbling Guinness World Record holder, who has performed a series of spectacular projects during the last five years including paragliding with a flock of starlings and with the beautiful Aurora Borealis as a backdrop.

– Brazilian Goberna was a Guinness Book of World Records winner at only 12-years-old and, in December 2016, he took to the skies above one of the seven wonders of the natural world when paragliding at Iguazu Falls.

– This time around, the duo teamed up in Dubai to showcase The Palm Fountain at the Pointe, Palm Jumeirah. They overcame a tricky preparation period to expertly glide between the fountain’s powerful jets of water.

– Spanning across the boulevard, the Palm Fountain features two giant floating platforms covering 14,000 square metres of sea water. Reaching an impressive 105 metres high and lighting up the Dubai sky with 3,000 LED lights, the fountain “dances” to hit songs from sunset until midnight.

– They undertook training first at Paramotor Desert Adventure on January 12 to test out their brakes and motors with technician Ramon Lopez finally arriving after being held up by the heavy snow in Madrid.

– Training was crucial for the challenge of flying during the night with low visibility as safety director Alan Gayton ensured they had a reserve parachute in case of a technical issue with the main parachute. Llorens and Goberna also had to study the movement of the water with great precision in order not to get caught up in the jets of water

– Flying over water, it was also mandatory to have a lifejacket with rescue boats, jet skis and divers on hand which came handy when Goberna suffered a technical malfunction on the first January 14 practice run.

– After repairs long into the night, they returned to Paramotor Desert Adventure to test out the motors again before completing the stunning flight on January 15 with Llorens and Goberna performing in harmony.

– Llorens, 38, revealed: “As soon as we got the opportunity, we wanted to fly there. We needed to know the area really well beforehand and we needed to know how to ‘play’ with the fountain – this was new for us. Such strong streams of water shooting 100 metres up is a lot, so we had to be really prepared.”

– Goberna, 26, explained: “The motor wasn’t flying so good because, prior to arriving in Dubai, it was last used in Europe at high altitude. I needed to adjust the carburettor in the air inside the motor. In the first practice flight over the water, I broke one propeller. I really couldn’t understand what was happening and then another one broke. Eventually, a backup motor was required. After a long journey, the final result was beautiful! The team worked incredibly hard to make it.”

– Llorens added: “The highlight for me was playing between the super shooters with Rafael, because it’s something we’ve never done before; it felt really new and really powerful.”

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EU sets itself jobs, training and equality targets for 2030

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EU sets itself jobs, training and equality targets for 2030 2

By Jan Strupczewski

BRUSSELS (Reuters) – The European Commission on Thursday announced goals for the 27-nation bloc to reduce poverty, inequality and boost training and jobs by 2030 as part of a post-pandemic economic overhaul financed by jointly borrowed funds.

The EU executive arm said the European Union should boost employment to 78% in 2030 from 73% in 2019, halve the gap between the number of employed women and men and cut the number of young people neither working nor studying to 9% from 12.6%

“With unemployment and inequalities expected to increase as a fallout of the pandemic, focusing our policy efforts on quality job creation, up- and reskilling and reducing poverty and exclusion is therefore essential to channel our resources where they are most needed,” the commission said.

The goals, which will have to be endorsed by EU leaders, also include an increase in the number of adults getting training every year to adapt to the EU’s transition to a greener and more digitalised economy to 60% from 40% now.

Finally, over the next 10 years, the EU should reduce the number of people at risk of poverty or social exclusion by 15 million from 91 million in 2019.

“These three 2030 headline targets are deemed ambitious and realistic at the same time,” the commission said.

The goals are part of the EU’s set of 20 social rights, agreed on in 2017, to make the EU more appealing to voters and counter eurosceptic sentiment across the bloc.

They say everybody has the right to quality education throughout their lives and that men and women must have equal opportunities in all areas and be paid the same for work of equal value.

The unemployed have the right to “personalised, continuous and consistent support”, while workers have the right “to fair wages that provide for a decent standard of living”.

(Reporting by Jan Strupczewski; Editing by Nick Macfie)

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UK aero-engineer Meggitt eyes return to growth after pandemic slump

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UK aero-engineer Meggitt eyes return to growth after pandemic slump 3

LONDON (Reuters) – British engineer Meggitt said that it could return to profit growth in 2021 provided there are no further lockdowns, despite a weakening in the struggling aviation market at the end of 2020 and early this year.

Pandemic restrictions halted much flying globally last year and forced plane makers Boeing and Airbus to cut production rates, dragging down suppliers like Meggitt, which makes and services parts for such aircraft.

Meggitt’s underlying operating profit plunged by 53% to 191 million pounds ($267 million) in 2020, it said on Thursday, despite continued growth in its defence business which makes parts for military jets and accounts for about 45% of the business.

Meggitt, however, said it expected air traffic to recover in the second half of the year which would help it return to profit growth over the year, although its guidance for flat revenue disappointed analysts who had expected growth of 6%.

Meggitt’s Chief Executive Tony Wood said in November that he had expected flying to start to recover by Easter, but new variants have led to more restrictions and delayed the recovery.

“It has gone back a couple of months… it’s now very much in the summer,” Wood said of the recovery in an interview on Thursday.

Further in the future, Meggitt is positioning itself for the move to lower emissions flying, and its sensors and electric motors will be used on electric urban air mobility platforms, such as flying taxis, and in hybrid aeroplanes being developed.

But Meggitt said new tax breaks announced in Britain’s annual budget on Wednesday aimed at encouraging investment would not change its plans.

“Yes, it will be a benefit. Are we looking at any acceleration as a result specifically of that? Not really,” Woods said.

Shares in Meggitt were down 1% to 427 pence at 0943 GMT. The stock has risen by 50% since news of a COVID-19 vaccine last November, but is still down 23% on where it was pre-pandemic.

($1 = 0.7165 pounds)

(Reporting by Sarah Young; Editing by Alistair Smout and Susan Fenton)

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