SG’s slice of American pie
The US structured funds industry was buzzing last month with news of SG’s acquisition of Bank of America’s structured products platform. Paul Lyon takes a look at SG’s decision to up its US presence
Last month, SG Corporate & Investment Banking (SG CIB) signed a purchase agreement with Bank of America to acquire its structured investments business, which provides financing to fund-of-fund companies that invest in a variety of hedge funds on behalf of institutional investors and high-net-worth individuals. The news sent tongues wagging. Was the agreement an attempt by Bank of America to divest itself of ‘risky’ hedge fund-linked business before the predicted – and perhaps exaggerated –
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