SG bolsters European credit business

SG, the investment banking arm of French bank Société Générale, has appointed Michel Granchi as director of credit sales. He will be responsible for developing the bank’s hedge fund business.

Granchi, who joined the bank as a credit trader nine years ago, reports to head of credit sales Karen Gabay. He will work alongside Edgar Leibovici, who joined the London credit default swaps and derivatives sales team in September. SG said it intends to expand the team further in 2004, with particular focus on development of trading and distribution of credit default swaps.

“Michel’s move to sales will enable us to further enhance the service we offer to our European institutional client base, especially in the area of hedge funds, where we expect to see continued growth prospects,” said Gabay.