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...Société Générale is set to launch its own stablecoin on a cryptocurrency exchange, becoming the first big bank to offer digital tokens tracking the price of hard currencies to a wide range of investors....
...It was enough to drag down shares of other French lenders, with Société Générale and Crédit Agricole sliding 3 per cent and 2 per cent respectively....
...In its corporate and investment bank, which BNP has been building up, the deal advisory and financing teams drove a 6.1 per cent rise in “global banking” revenue, echoing a rebound on Wall Street....
...That same magnetism does not apply to investors and Société Générale. If anything the polarity has reversed....
...A lacklustre performance from its retail bank dragged on Société Générale’s revenues in the third quarter, highlighting the challenges facing new chief executive Slawomir Krupa as he tries to reset the fortunes...
...Société Générale’s chief executive Slawomir Krupa has said he will move on from “a year of transition” blighted by weakness at its French retail business, as the French bank set out plans to accelerate revenue...
...This is a rarity in European banking, where poor returns have eroded shareholder value in recent years. Deutsche Bank, Société Générale and Barclays are notable offenders....
...This is good news for Goldman Sachs, the purest investment bank on Wall Street and the one most geared to the deals cycle. Its investment banking revenues rose by a third....
...However, many quants have managed to recover from these losses, with Société Generale’s Trend index up 45 per cent over the past three years....
...The quarter was the first under Pick, whose background in investment banking and trading contrasts with predecessor James Gorman’s years in wealth management....
...If communicated poorly, as Société Générale’s Slawomir Krupa discovered in September, the event could cause more harm than good....
...Earlier this week, Nick van Eck, the son of investment manager Jan van Eck, raised $12mn to launch a stablecoin, while payments company PayPal and French bank Société Générale both launched their own stablecoins...
...Investment banking, meanwhile, had its best quarter in two years, with revenues of $2.1bn....
...The pick-up in mergers and acquisitions could usher in Wall Street’s long-awaited recovery for investment banking....
...Late last year, “every equity strategist on the planet was saying there would be an earnings correction at some point in 2024”, said Manish Kabra, head of US equity strategy at Société Générale....
...Trading and investment banking helped lift Deutsche Bank to its highest quarterly profits in 11 years in the first three months of 2024, as global dealmaking started to pick up after a two-year long slump...
...Société Générale and Brookfield Asset Management are to team up for a €10bn fund in the fast-growing, private credit market as the French bank’s chief executive Slawomir Krupa looks to shake up the lender...
...Barclays also struggled to capture the resurgence in global dealmaking, with its advisory business down almost a third from last year, and revenues across investment banking and trading down 7 per cent to...
...Simon Cooper — who has led the trading, capital markets and corporate banking unit from Singapore since joining from HSBC in 2016 — “will leave the group to pursue other interests”, the bank said on Tuesday...
...That helped carry its corporate and investment banking division overall, which saw revenues climb 3 per cent....
...Banks including JPMorgan, Goldman Sachs, BNP Paribas, Société Générale and UBS wrote to Sebi in January warning there were “material legal and regulatory reasons” why it would be “very difficult” to supply...
...Large companies with access to bond markets have in effect played the yield curve in reverse, says Société Générale strategist Albert Edwards....
...“Any suggestion that this regulatory approach should be changed lacks substantiation and could harm fund investors,” said the Investment Company Institute, which represents fund managers....
...The Dassault Falcon 7X was sold in recent weeks to a German subsidiary of French bank Société Générale that specialises in aircraft leasing, ownership documents seen by the Financial Times show....
...Générale....
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