Hubert de Saint Jean – Societe Generale Albania
By: Anastasia Nazarko
In an exclusive interview with Tirana Times, general manager of Societe Generale Albania – Mr. Hubert de Saint Jean – weighs in on Albania, culture, and the success of Societe Generale
Sitting in his office with a magnificent panoramic view of Tirana, Mr. Hubert de Saint Jean has much to be proud of. As general manager of Societe Generale Albania, he has presided over and steered the bank’s remarkable growth and progression. In fact, in only one-year’s time, Societe Generale has gained 1% of the Albanian market share.
“Societe Generale actually has gone beyond my expectations,” remarked Mr. de Saint Jean.
Yet, such growth is not a matter of mere luck for the bank, but rather the result of carefully calculated planning tailored to the Albanian market.
“Emerging countries have great potential; they have a level of flexibility that larger economies may not have,” explained Mr. de Saint Jean. “In France or Germany, for example, it is difficult to take 1% of the market.”
Indeed, it was this factor combined with Albania’s young population that motivated Societe Generale to enter the Albanian banking sector in 2007. However, Mr. de Saint Jean also adds that a small market alone cannot guarantee success.
“It is important to learn and understand the culture that one is entering, the way things work and people operate,” he said.
In light of the variations that Societe Generale encounters as it conducts business in various countries, Mr. de Saint Jean also emphasizes the importance of flexible business plans; since, offering a homogenous set of products in every state is not logical or efficient. In Albania’s case, one of the most interesting products which Societe Generale hopes to launch within the coming year is mobile bill payment, with which customers will no longer have to stand in long lines to pay their utility (and other) bills; but instead will be able to do so quickly and easily via their mobile phones. Though this new service is a large undertaking for Societe Generale and requires extensive cooperation from other actors, Mr. de Saint Jean considers Albania a hospitable environment for such endeavors.
“Thanks to the flexibility of the Albanian system, it is possible to offer such a product,” he commented. “In other countries such a service would be much more difficult as it could require [added procedures, such as] changes to laws.”
In addition to Albania’s flexibility, Mr. de Saint Jean appreciates its relative economic independence evidenced by the lower value it places on globalization in comparison to other countries. As observed by Societe Generale’s general manager, the fact that exports are not the engine of the Albanian economy allows it to remain relatively protected from economic downturns abroad. In fact, it is these elements that Mr. de Saint Jean credits as part of the reason Albania was spared the brunt of the global financial crisis.
Yet, according to Mr. de Saint Jean, relative protection from international markets does not mean isolation or poor future economic prospects. Though the country only opened up twenty years ago and must now play catch-up to other states, the general manager of Societe Generale is optimistic.
“Albania is growing faster than its neighbors,” he notes. “If one looks at the growth percentages of Albania and others, a positive gap in Albanian economic growth is clear.”
Yet, the question remains, is Albania’s progress a short-term phenomenon or can its rapid market growth be sustained? In this regard, Mr. de Saint Jean is also positiveء position he supports by citing the Greek financial crisis. According to him, the fact that there has been a revolution in bank deposits despite a decrease in remittances illustrates the fact that Albania has the capacity to resist its neighbor’s troubles and absorb the effects.
Albania’s economic performance can also be attributed to Albanians’ openness to workسomething Mr. de Saint Jean noticed when he first came to the Balkan country.
“I was surprised to see people working on Sunday. In France and Germany it is hard enough to find shops open after 6 pm, let alone on a weekend,” he remarked.
Indeed, time outside of work is something that Mr. de Saint Jean tries to make the most of, and a topic which was even brought up at his interview for employment with Societe Generale years ago, the general manager relates with a chuckle.
“When asked about my hobbies, I gave the same answer that I do today: to take care of my family. It is a shame to spend time away from my wife and children doing sports or other things when time with them is so difficult to find during the week.”
In addition to spending time with his family, Mr. de Saint Jean is an avid readerئavoring works by Ismail Kadare and Fatos Kongoli, among others. He is also a patron of the artsئrequently attending operas and supporting his wife’s career as an artist.
Yet, the future endeavors and success of Societe Generale Albania naturally remain key priorities for the bank’s general managerطho is working to ensure the company’s goal of gaining yet more market share by developing first-of-their-kind services. Among these are a new exclusive VIP branch for private banking and wealth management, as well as a medical banking branch.
“It’s important to provide tailor-made service,” explained Mr. de Saint Jean. “We like to know the job of our clients well so we can address their unique needs.”
Taking into consideration the company’s current performance, it seems that Societe Generale Albania’s approach is being welcomed by the public; and if this is any indicator of future potential, one can conclude that Mr. de Saint Jean has much to look forward to.
