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The 19 bln euro lender is overhauling its retail business to boost profitability. A bolder move would be to sell the Russia unit, which might fetch up to 2.9 bln euros from a rival like Gazprombank. CEO Frederic Oudea could then focus on more lucrative eastern Europe and Africa.
SocGen to Cut 80 London Jobs as Bank Pares Back Securities Unit Mar 07 2021, 1:18 PM March 05 2021, 9:40 PM March 07 2021, 1:18 PM (Bloomberg) -- Societe Generale SA is planning to cut about 80 positions in London as the lender scales back a business that provides securities services to asset managers, banks and brokers. (Bloomberg) -- Societe Generale SA is planning to cut about 80 positions in London as the lender scales back a business that provides securities services to asset managers, banks and brokers. About half the positions are being cut at SocGen securities services unit, known as ...
5 Min Read FRANKFURT (Reuters) - Unpaid debt from pandemic-stricken borrowers has ravaged profits at Europe’s big banks and kick-started a debate among politicians about whether they may ultimately need state help. FILE PHOTO: European Commissioner for Economy Paolo Gentiloni attends a media conference in Brussels, Belgium November 18, 2020. REUTERS/Johanna Geron/Pool/File Photo Reflecting on the pandemic impact, many bank executives say the worst is behind them, with Societe Generale CEO Frederic Oudea and BNP Paribas CEO Jean-Laurent Bonnafe predicting an imminent rebound. “Optimism is ...
Societe Generale shares have advanced from $12.8 above $21 since the beginning of October, and for now, everything indicates that the price could advance even more. Societe Generale reported better than expected Q4 results, and the bank announced that it would buy around $570M in shares during the fourth quarter of 2021. Fundamental analysis: Societe […]
Bank of England says Alex Brazier to leave Financial Policy Committee Published 2 months ago LONDON (Reuters) – The Bank of England said Alex Brazier would leave its Financial Policy Committee when his three-year term ends on March 31 as he plans to take a career break from the central bank. “He will also stand down as the Bank’s Executive Director for Financial Stability Strategy and Risk at that point,” the BoE said. “With a six-month notice period, Alex will begin his career break at the end of September. The Bank will shortly begin a recruitment process to identify Alex’s rep...