Société Générale (Socgen) and Paribas approved on January 31, 1999 a plan to unite their businesses. The new entity will be named SG Paribas and is expected to begin operations at the end of April 1999. Although the two banks will complete a full operational merger of their activities, both Société Générale and Paribas should remain separate legal entities. The new entity will have combined total loans of Euro 185 billion, total customer deposits of Euro 125 billion, total assets under management of Euro 220 billion and will become one of the five largest banks in Europe with total assets of Euro 679 billion. The proposed transaction will strengthen the newly formed bank’s investment banking operations thanks to an enhanced capital base and stronger market shares in chosen markets. It should also raise Socgen’s profile in specialized financial services, enhance its competitive position in corporate banking and further comfort its leadership in asset management operations.
UK firms investment in training and development will increase, on average, by a fifth in the next year, claims Robert Half recruitment after interviewing 100 financial services (FS) executives.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.