Current deputy director of group compliance Arnaud Jacquemin will take up the role from June 11, according to a statement released by the bank on Monday.

Jacquemin joined the group in 1993, working for them in France and the United States.

Véronique de la Bachelerie joined Société Générale in 1987 as head of consolidation. In 2013, she became CEO of Société Générale Bank & Trust, the bank that carries out all of the Société Générale group’s businesses in Luxembourg, with the exception of retail banking activities.

Société Générale, which regularly changes its CEOs, was vague about Véronique de la Bachelerie's future activities within the group.

The Société Générale group has been present in the Grand Duchy for 125 years, and today counts some 1,200 employees in the fields of private banking, market activities, corporate services and the securities business.