Societe Generale Private Banking has appointed Gonzague de Cerval as chief executive officer and commercial director in the Middle East, replacing Eddy Abramo, who has left the group to pursue other career opportunities.

Societe Generale Private Banking has appointed Gonzague de Cerval as chief executive officer and commercial director in the Middle East, replacing Eddy Abramo, who has left the group to pursue other career opportunities.

Based in Dubai, de Cerval will be responsible for pursuing the overall growth strategy of the private bank in the Middle East, which serves high and ultra high net worth clients of the Gulf Cooperation Countries from its offices located in Dubai and Abu Dhabi.

He reports to Yves Thieffry, CEO of Societe Generale Private Banking (Suisse) and the member of the executive committee of Societe Generale Private Banking with responsibility for supervising these activities in the Middle East.

De Cerval was previously head of the Societe Generale representative office in Abu Dhabi from 2010 to 2011.

He began his career at the Luxembourg branch of BNP Paribas Private Bank in 2002, before joining Societe Generale Bank & Trust Luxembourg as a private banker in charge of Greek and Middle Eastern clients. He joined the Dubai branch of Societe Generale Private Banking Middle East in 2007, becoming its CEO in 2010. Returning to SGPB Luxembourg in 2011, he was initially responsible for Middle Eastern and African clients and then appointed emerging markets manager in 2013.

Last month, Societe Generale Private Banking appointed Alan Mudie as its head of investment strategy, replacing Antoine Blouin, who will focus on his role as head of wealth management solutions, Switzerland.

The appointments follow a massive restructuring of Societe Generale's business due to the fallout of the European sovereign debt crisis.

Like many of its rivals across the European banking industry, Societe Generale has been selling assets to improve profitability and bolster its balance sheet.

In March this year, DBS, Asia's biggest bank by assets, agreed to buy Societe Generale's Asian private banking business in a deal worth $220 million.

Last December, the bank was fined €446 million ($607.5 million) by the European Commission after an investigation into the alleged rigging of the euro interbank offered rate.