The Courtois bank, a Toulouse institution more than bicentenary, will merge with Société Générale and become SG Courtois in Occitanie on January 1, 2023. Death announced according to the CFDT, new impetus for the management of the new entity.
“Société Générale killed me”. Paraphrasing a famous sentence, with its spelling mistake, transferred from the realm of news items to the much more muted one of the bank, this could be the title of the open letter sent to the press, just before the end of year celebrations , by the CFDT. The union’s elected officials and delegates say: “For ten years, Société Générale (of which the Crédit du Nord group and the Courtois bank are subsidiaries, Ed.) has been accumulating strategic errors”.
Created in Toulouse in 1760
The financial establishment created in Toulouse in 1760 by the Capitol Isaac Courtois will be removed from the commercial register and will no longer have a legal existence at the end of 2022. It lived its last Economic and Social Council (CES) this December 15. The end of a Toulouse institution, “after 262 years of existence, during which it resisted crises, wars and the Revolution”, notes the CFDT. An announced death which, according to the union, is accompanied, in addition to the disappearance of the name, of many workstations: “We signed a support agreement whose application is unfair and in bad faith”, assures Michèle Bleuse, CFDT union representative.
SG Courtois in Occitania
Hélène Sauvan, president of the Courtois bank and future regional director for Occitanie of the new Occitan entity SG Courtois, announces on the contrary a new impetus given to the Toulouse bank by the merger with Société Générale. “The decentralized and local model of the Crédit du Nord group will be applied with the creation of regional departments which will maintain the short decision-making circuit which is the particularity of the Courtois bank, highly appreciated by professionals, by adding the expertise of SG, nothing will change for our customers”, declares the former HRD of Crédit du Nord, “SG Courtois, there are 1,690 employees in Occitanie at 1is January 2023, and 1,535 at the end of 2025, while there are 50 natural departures per year at Banque Courtois”. There will be no forced departures or geographic mobility, management agrees.