Frédéric Oudéa, chief executive of French bank Societe Generale, is set to step down from the bank next year, calling time on one of the longest reigns of a major European bank.

Oudéa, who took charge of SocGen in 2008, will not seek re-election as chief executive in May 2023, the bank said in a statement. He announced the decision at the bank's annual general meeting held on 17 May.