(CercleFinance.com) – Société Générale and AllianceBernstein announced on Tuesday the official launch of ‘Bernstein’, their joint venture in equity research and cash equities, a project which had initially been announced at the end of 2022.
With a workforce of more than 750 employees, this joint venture will be structured around two distinct legal vehicles with a head office in New York covering North America and a head office in London covering Europe and Asia. .
This organization will be supplemented by two major ‘hubs’ in Paris and Hong Kong, as well as several regional offices.
In a press release, SG explains that it will be able to offer its clients, through the joint venture, a complete range of global services across the entire equity chain, ranging from research to derivatives, including prime brokerage and stock markets.
The project should enable it to expand its offering to investor and issuer clients, maximize synergies within the group and increase its revenues.
Robert van Brugge, who has been the Managing Director of AB Bernstein Research Services since 2011, has been appointed Managing Director of the new entity, while Stéphane Loiseau, who has been Director of Société Générale’s cash equities business since 2021, will become Managing Director. the deputy general manager.
The objective of Société Générale and AllianceBernstein is for the French bank to own 100% of both structures after five years.
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