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SocGen and Alliance Bernstein announce new joint venture
2022.11.22 02:49
© Reuters. FILE PHOTO: The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France, February 4, 2020. REUTERS/Benoit Tessier
PARIS (Reuters) – French bank Societe Generale (OTC:) and U.S. investment management company Alliance Bernstein announced plans on Tuesday to form a joint venture focusing on global cash equities and equity research.
Societe Generale intends to take a 51% interest in the joint venture, with an option to reach 100% ownership after five years, added the French bank.
