Société Générale has appointed Eric Frachon as CEO for CGA, the group’s French factoring subsidiary.

Based in Paris, Frachon reports to Christian Behaghel, the bank’s head of global transaction banking.

He replaces Philippe Lepoutre who becomes head of global payment services.

In his new role at the bank, Franchon is responsible for overseeing the development of CGA: his main objectives will be to continue to promote the factoring activity and develop the supply chain finance offering.

He joined Société Générale in 2006 from Volvo, and began his career at Renault.

“CGA offers a wide range of products able to meet the short-term financing needs of many different businesses, from SMEs to large corporations,” says a statement issued by the bank.