SG oils up its China coverage

SG's corporate and investment banking unit has hired Bruce Hu to cover Chinese oil and gas companies. Based in Beijing, Hu will be a vice president responsible for developing the firm's capabilities in the country.

SG is known for its expertise in this sector, having particular product skills in project finance, investment banking, commodities finance, derivatives and export finance, which are all heavily utilized by oil and gas companies.

Hu joins from Credit Agricole Indosuez, where he was a vice president in the project and structured finance department. Prior to that he worked at China Construction Bank for six years. He has an MBA from China Europe International Business School in Shanghai.

"SG CIB has an ambitious business plan for developing its activity with Asian oil and gas clients around the three key areas of expertise of its corporate and investment banking division, euro capital markets, derivatives and structured finance," says Philippe J. Fournier, managing director and head of Europe & Asia - oil and gas sector for SG in Beijing.

"China is undoubtedly playing a major role in reshaping the geopolitics of energy and Chinese oil majors have considerably built their influence by becoming increasingly involved in international activities and vertical integration," he adds.

"These two areas are of great interest for the Société Générale Group and provide us with the opportunity to serve our Chinese clients by offering our international banking capabilities across a wide network of branches and subsidiaries in oil producing countries as well as a comprehensive range of strategic advisory and financing services."