Societe Generale appoints Eric Frachon as CEO for CGA, the group's french factoring subsidiary
Societe Generale Global Transaction Banking (SG GTB) has appointed Eric Frachon as Chief Executive Officer of CGA.
Based in Paris, he reports to Christian Behaghel, Head of SG GTB, and replaces Philippe Lepoutre who becomes head of Global Payment Services.
Eric Frachon will be responsible for overseeing the development of CGA. His main objectives will be to continue to promote the factoring activity and develop the Supply Chain Finance (SCF) offer.
CGA offers a wide range of products able to meet the short-term financing needs of many different businesses, from SMEs to large corporations. Currently, CGA serves 5,400 clients worldwide and offers access to a web-based solution featuring multiple countries, currencies, languages, organisations and bank functionalities to manage the need of supply chain finance.
Eric Frachon’s biography
Eric Frachon graduated from the Institut d’Etudes Politiques d’Aix en Provence with Masters in International Private Law and in Bank and Finance. His career spans 30 years, 22 of which internationally, Eric’s started his career at Renault where he worked for 16 years holding different management positions in France and abroad. In 2000, he joined Volvo, first in the USA as Executive Vice President Finance (Mack Trucks, Inc.) then in France, where he was appointed CEO and President of Volvo Financial Services. In 2006, Eric joined Societe Generale Equipment Finance as Executive Vice President, Head of Network. In this role, he was responsible for the direct supervision of 18 countries and the launch of 6 start-ups.