Société Générale: 'Bernstein' joint venture launched
With a workforce of over 750 employees, this 'joint venture' will be structured around two distinct legal vehicles with a headquarters in New York covering North America and a headquarters in London covering Europe and Asia.
This organization will be complemented by two major 'hubs' in Paris and Hong Kong, as well as several regional offices.
In a press release, SG explains that it will be able to offer its clients, through the joint venture, a comprehensive range of global services across the entire equity chain, from research to derivatives, prime brokerage and equity markets.
The project should enable the company to broaden its offering to investor and issuer clients, maximize synergies within the group and increase revenues.
Robert van Brugge, who has been CEO of AB Bernstein Research Services since 2011, has been appointed CEO of the new entity, while Stéphane Loiseau, who has been head of Societe Generale's cash equities business since 2021, will become deputy CEO.
The aim of Société Générale and AllianceBernstein is for the French bank to own 100% of both structures within five years.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
Go to the original article.
Contact us to request a correction