Equity derivatives house of the year: Societe Generale
SG has always been innovative - and kept that up last year with a clever equity repo workaround - but the Newedge acquisition adds heft in agency execution and prime brokerage.
To many, the marriage of Societe Generale (SG) and Newedge last year looked like one of convenience – the French bank bought the rest of the agency broker from wantaway joint owner Crédit Agricole after the two banks reportedly considered selling their stakes. SG's executives see it more like the happy culmination of a long courtship.
Previously the only top-tier lender without an equity prime brokerage business, the bank has, at a stroke, gained one of the largest footprints in the business
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