This content is from: Innovation
SocGen To Sell Futures Unit
Societe Generale is selling its interest in Newedge Group, a futures and clearing brokerage.
Societe Generale (SocGen) is selling its interest in Newedge Group, a futures and clearing brokerage, Reuters reports. The bank is seeking to limit its balance sheet and offload risky assets. It may also shed its custody and securities unit Société Générale Securities Services.
SocGen is being advised by Morgan Stanley and Deutsche Bank. SocGen co-owns Newedge with Credit Agricole.
Click here for the story from Reuters.