SocGen CEO to Ruhle: Putin more rational than some think; wants ‘self-funded’ growth in Russia.
In an interview with Bloomberg’s Stephanie Ruhle (@SRuhle), Societe Generale Chairman/CEO Frederic Oudea said he has had a ‘good’ experience doing business in Russia on a daily basis and wants to grow there by limiting risk.
Oudea Key Points:
-“Self-funded development” in Russia is key
-SocGen sees many clients going to Russia, wants to accompany them.
-Putin has been more rational than some people think.
-No reason for Russia to change rules of doing business in Russia.
-Talent must be rewarded, but people must be motivated by what they do [re: Banker’s pay]
-Everyone is motivated by pay, but it can’t just be pay, we must build a different culture.
-Barclays moving toward a SocGen model.
source: Bloomberg Television