Societe Generale
UK CDS spreads up
The cost of credit protection on UK banks increased in early trading this morning, while US financial institutions experienced mixed market sentiment.
SG hit by €1.27 billion in writedowns
Société Générale's profits dropped 84% in the third quarter, as the bank's exposure to various aspects of the credit crisis caused it to announce writedowns of €1.27 billion.
FSA market watch letter focuses on market abuse controls
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Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
European credit trading head leaves SocGen
Lionel Gibert, London-based head of European credit trading at Société Générale Corporate and Investment Banking (SG CIB), has quit.
BarCap works to revive life insurance securitisation
For Barclays Capital, a recent £250 million ($495 million) securitisation of part of UK insurer Aegon Scottish Equitable’s life portfolio proves there’s life left in the life insurance securitisation market.
Firms heed Kerviel lesson by linking front and back offices
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CEBS analyses Kerviel’s op risk impact
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SG speculates on credit
Société Générale has reported increased interest in unleveraged long credit trades based on the iTraxx Crossover Europe index.
CEBS analyses op risk impact of Société Générale fraud
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Sovereign and state bank links - Product review
Societe Generale is offering investors a link to the sovereign debt of China, Malaysia, South Korea and Thailand and the banking debt of the State Bank of India. Capital is protected and coupons are fixed at 3.3%, although the issuer has the right to…
SG CIB makes two hires for equity derivatives team
Société Générale Corporate and Investment Banking (SG CIB) has hired two staff for its equity derivatives department.
Cultural change prescribed in response to subprime losses
As banks and other market players seek to close risk management loopholes exposed by tottering markets, some post-mortems are homing in on a broader issue: corporate culture.
Péretié to replace Mustier at SG CIB
Michel Péretié has been named as the next chief executive of Société Générale Corporate and Investment Banking (SG CIB), replacing Jean-Pierre Mustier.
Compliance managers warned of troubles ahead
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SG moves on from Kerviel
Société Générale was sent reeling after revelations of a EUR4.9 billion rogue trading loss in January. Glaring weaknesses in the control processes were identified in an internal report, and the bank has started to take steps to address the issues. Nick…
Police question second SG employee
A new lead has emerged in the recent case of unauthorised trading at Société Générale (SG), which cost the bank €4.9 billion in January.
FSA releases systems and controls questions on SG rogue trading incident
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