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3 Min Read PARIS (Reuters) - France’s Societe Generale posted a drop in equity and fixed-income trading revenues in the fourth quarter, the bank reported on Wednesday, out of step with many rivals who profited from volatility during the COVID-19 pandemic. FILE PHOTO: The logo of French bank Societe Generale is seen outside a bank building in Paris, France, February 9, 2021. REUTERS/Sarah Meyssonnier The French lender in is the middle of revamping its markets business and exiting some areas, after losses in structured products wiped out earnings at its equities business in the first half ...

France's Société Générale has posted a drop in equity and fixed-income trading revenues in the fourth quarter, out of step with many rivals who profited from volatility during the Covid-19 pandemic.

SocGen to Return Capital After First Losing Year in Decades Bloomberg 2/10/2021 Alexandre Rajbhandari (Bloomberg) -- Societe Generale SA vowed to return capital to investors even as it ended its first losing year in more than three decades with a slump in trading. In contrast to double-digit gains at Wall Street peers, SocGen saw equities revenue -- its traditional strength -- fall 7% from a year earlier and fixed-income trading drop 16%. Net income in the fourth quarter fell less than analysts had expected and the Paris-based firm pledged to return about 940 million euros (...

PARIS (BLOOMBERG) -- On a cold day in January last year, Societe Generale's board met at the headquarters of its Russian unit Rosbank, a modern building in central Moscow angled around a cylindrical glass structure. The annual gathering was being held there to honor the unit's strong performance in 2019, but things quickly turned sour: CEO Frederic Oudea had an off-agenda item to discuss. Just weeks earlier, Bloomberg reported that the board had hired head-hunting firm Egon Zehnder to search for potential candidates to eventually succeed Mr Oudea. Stepping up in front of the gathering that in...