NEW YORK, Feb. 2, 2011 /PRNewswire/ -- Societe Generale Corporate & Investment Banking announces that SG Americas Securities, LLC, its U.S. broker-dealer, has been designated as a Primary Dealer by the Federal Reserve Bank of New York.
Primary Dealers serve as counterparties to the Federal Reserve Bank of New York in open market operations, participate directly in Treasury auctions and provide analysis and market intelligence to trading desks at the New York Fed.
"Designation as a primary dealer by the Federal Reserve Bank of New York is consistent with our development plans for the region, which include substantially expanding our U.S. fixed income platform in areas including Rates, High-Grade Credit and Foreign Exchange in order to complement our leading Euro fixed income franchise," said Diony Lebot, CEO for Societe Generale in the Americas.
"Becoming a primary dealer in the U.S. is a natural extension of our client-oriented strategy and commitment to provide our clients around the world with first-class advice and execution services into the world's most important markets," said Michel Peretie, CEO of Societe Generale Corporate & Investment Banking.
This development follows the announcement in September of 2010 that Societe Generale had received the status of Gilt-Edged Market Maker by the UK Debt Management Office and the London Stock Exchange, rounding out the bank's European primary issuance capabilities.
SG Americas Securities, LLC is a registered U.S. broker-dealer and a member of SIPC.
Societe Generale
Societe Generale is one of the largest financial services groups in the euro-zone. The Group employs 157,000 people worldwide in three key businesses:
- Retail Banking, Specialized Financing & Insurance: Societe Generale serves more than 32 million individual customers worldwide.
- Private Banking, Global Investment Management & Services: Societe Generale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 3,073 billion, December 2009) and under management (EUR 344 billion, December 2009).
- Corporate & Investment Banking: Societe Generale tailors solutions for its clients across sectors by capitalizing on its worldwide expertise in investment banking, global finance, and global markets.
Societe Generale is included in the socially-responsible investment indexes: FTSE4Good and ASPI. In 2010, the title of SAM Sector Mover was awarded to Societe Generale.
Societe Generale Corporate & Investment Banking
At the core of Societe Generale's universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 11,000 professionals present in 33 countries across Europe, the Americas and Asia-Pacific.
Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
- For Corporates, Financial Institutions and public sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
- For investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forward-looking research across asset classes.
SOURCE Societe Generale
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