9 days ago • 1:36 min
The long-touted joint venture between Société Générale’s and AllianceBernstein’s stock businesses appears to be going ahead, according to news out on Tuesday.
What does this mean?
The world of professional stock investing hasn’t been a happy place in recent years. The rise and rise of cheap, index-based investing has thrown a wet blanket on professional investment services, and the toxic spillover has splashed firms that cater to professional investors, as Société Générale (SocGen) and Bernstein do. The “strategic” reason for the venture, then, is that SocGen, strong in trading, and AllianceBernstein, strong in research, go together like peanut butter and jelly. But the deal’s probabl
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