Societe Generale Corporate & Investment Banking transfers selected assets from Jefferies Bache
Societe Generale Corporate & Investment Banking today announces it has signed an agreement with Jefferies to transfer selected assets from Jefferies Bache, consisting mainly of futures execution & clearing activities. The transaction which remains subject to closing conditions in the agreement is expected to close by the end of Q2 2015.
This transaction shows the bank’s strong commitment to listed derivatives execution & clearing businesses in line with its strategy to further develop pre-trade to post-trade services across all asset classes.
It will also enable Societe Generale Corporate & Investment Banking to extend its existing client base, leveraging on its global and robust platform, recently enhanced after the acquisition of Newedge.
“This transfer is a good opportunity which allows us to cement our leadership in the rapidly growing sector of listed and OTC derivatives clearing and execution, and post-trade services whilst continuing to position ourselves favourably in the new regulatory environment. Transferred clients will benefit from the bank’s full suite of innovative solutions. All our teams are already mobilized and thrilled to welcome those new clients and facilitate their transition to our high quality service platform" said David Escoffier, Deputy Head of Global Markets for Societe Generale Corporate & Investment Banking and CEO at Newedge.