France's SocGen hiring for Brexit 'execution and delivery' team

A logo of French bank Societe Generale is pictured on a building in Geneva, Switzerland, November 8, 2017. REUTERS/Denis Balibouse

PARIS (Reuters) - France’s Societe Generale showed how banks are pushing ahead with Brexit contingency plans this week by advertising for someone to join the team reshaping its investment banking.

SocGen said in a job posting published on its careers website on Feb. 7, it was looking for “a member of a project team dedicated to the Brexit operational delivery execution stream”.

The London-based business analyst would be in charge of running a detailed implementation roadmap with a specific mission “Brexit execution and delivery phase”.

SocGen has said that it plans to transfer or create 300 jobs in Paris as a result of Brexit, while it has 2,000 investment banking (CIB) staff in London.

Conciliatory signals from Prime Minister Theresa May and progress in talks with Michel Barnier, the European Commissioner’s chief negotiator, have prompted some banks to delay large staff moves, at least for now.

However, preparing the groundwork continues and the SocGen role is advertised on a initial 6 to 12 month fixed contract.

It is part of Corporate and Investment Banking’s operations department that handles middle and back office functions, such as clearing, collateral, execution of trades, for all CIB business lines.

SocGen declined to comment on Thursday on how big its Brexit team is, but said that there was nothing new to add on the Brexit move plan that it had announced last year.

Reporting by Maya Nikolaeva; editing by Alexander Smith