Société Générale And Alliancebernstein Combine Stock Research And Trading

Deals
07/17/2023

SOCIÉTÉ GÉNÉRALE AND ALLIANCEBERNSTEIN COMBINE STOCK RESEARCH AND TRADING

Société Générale and AllianceBernstein are combining their equities research and trading businesses to compete better globally.

 

The move comes after a wave of regulation in Europe around how banks and other stock-research providers sell their services. Financial firms tout stock research to their clients for trading ideas and draw on it to win business from companies looking to raise funds by issuing new shares.

 

The proposed joint venture will operate from London under the Bernstein name. SocGen will own 51% and have the option to take full control after five years.

 

Rushabh Maniar, Partner, AZB & Partners advised AllianceBernstein on Indian aspects of the transaction.

Write to us at deals@lawwiser.com

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