- Bloomberg
SocGen to Sell Bulk of Morocco Business in €745 Million Deal
(Bloomberg) -- Societe Generale SA is selling the bulk of its Moroccan business to Saham Group in a €745 million ($798 million) deal, accelerating Chief Executive Officer Slawomir Krupa’s plan to streamline the lender.Most Read from BloombergApple Plans to Overhaul Entire Mac Line With AI-Focused M4 ChipsRussian Attacks on Ukraine Stoke Fears Army Near Breaking PointUS Sees Imminent Missile Strike on Israel by Iran, ProxiesVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudIsrael Bracin
- Reuters
SocGen, AllianceBernstein launch their cash equities JV
Societe Generale, France's third-biggest listed bank, and U.S. asset manager AllianceBernstein officially launched their joint venture in the cash equities and equity research businesses, the two companies said on Tuesday. The move, initiated by SocGen's CEO Slawomir Krupa shortly before he took the reins of the French bank, is part of the company's efforts to keep up with bigger competitors such as BNP Paribas in France and leading Wall Street banks Goldman Sachs and JP Morgan.
- Reuters
Barclays among parties eyeing SocGen's UK private bank, sources say
LONDON/ZURICH (Reuters) -Barclays is in the early stages of considering a bid for Societe Generale's UK private bank, in an effort to expand its business targeting wealthy individuals, three people familiar with the matter told Reuters. Such a move would fit with plans by Barclays, which is to present a strategy review next week, to revamp its business, but it would face competition. Barclays' interest in SocGen's British private bank comes on the heels of its acquisition of Tesco's banking operations, as part of efforts to diversify away from volatile investment banking income.
