Frédéric Oudéa

Frédéric Oudéa became CEO of Société Générale in May 2008, just months after the discovery that trader Jérôme Kerviel had accumulated unauthorized derivatives positions totaling €50 billion, resulting in a loss of approximately €4.9 billion when the positions were unwound. Oudéa spent years rebuilding the bank's internal controls, risk management culture, and public reputation. He also navigated SocGen through the 2008 financial crisis, European sovereign debt concerns, and the shift toward stricter capital regulation. He implemented significant investment bank restructuring and repositioned the bank toward its core European corporate and retail banking franchises. He stepped down in 2023 after 15 years as CEO, one of the longest tenures at a major European bank. His legacy includes a substantially strengthened risk governance framework and a refocused business model that reduced reliance on volatile trading revenues.