Societe Generale’s announcement of a partnership with AllianceBernstein in November is a clear sign that the bank wants to grow, rather than retreat, in equities. It also comes at a critical time for the French bank, as it transitions to a new chief executive for the first time in 15 years.
The past year had already been an eventful one for SocGen. A €4.9 billion takeover of LeasePlan in January, and the acquisition of ING France, gave way to a fire sale of its Russian bank following the outbreak of war in Ukraine.
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