SocGen mulls sale of structured product books after big losses
Rival Natixis also plans to place parts of its equity derivatives business in run-off mode
Societe Generale will reshuffle its structured product mix and look to sell some legacy books to competitors after reporting a €200 million ($237 million) loss related to the instruments in its second-quarter results.
The latest hit brings the bank’s year-to-date losses on structured products to €400 million. First-half equity trading revenue is down 90% as a result.
“We will consider any opportunity to de-risk the portfolios we don’t want to keep, so if there is a possibility to sell, we
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