French lender Société Générale is launching a new division to manage its real estate activities which will be led by Gérard Frabolot.
French lender Société Générale is launching a new division to manage its real estate activities which will be led by Gérard Frabolot.
The property arm will have four business lines, namely real estate financing, leasing, development and consulting.
It will bring together the Société Générale subsidiaries active in real estate. These include CIG, which specialises in structured financing, Sogebail-Sogefimur and Genefim which focus on leasing and have a €5 bn portfolio under management, the Sogeprom development unit which posted a turnover of €600 mln in 2012 as well as Odiprom, which provides services to real estate investors.
Frabolot will take the helm of the new property division. He started his professional career in 1979 as engineer at the Bureau of Geological and Mining Research in Bolivia.
He joined Société Générale in August 1981 and in 2001, was appointed chief risk officer of the Regional Delegation of eastern Paris. In 2006, he became director of the Basel 2 project for retail banking in France.
