French bank Societe Generale selects William Connelly as new chairman

Societe Generale GLE has selected William Connelly to be chairman of the board of directors starting May 2026, subject to his renewal as a director by the general meeting on May 20, the French bank said on Thursday.

Connelly, a member of the board of directors since 2017, chairs the risk committee and is a member of the nomination and corporate governance committee.

He will succeed Lorenzo Smaghi, who has been chairman since 2015. The bank did not specify why Smaghi is being replaced.

Societe Generale in 2023 had named Slawomir Krupa as CEO, completing a succession process that Smaghi helped drive following the long tenure of Frédéric Oudéa and paving the way for a new leadership duo at the helm of the group.

Connelly, who holds French citizenship, started his career in 1980 at Chase Manhattan Bank. He held senior roles in corporate and investment banking before joining ING, where he led the group's wholesale banking operations from 2011 to 2016.