SG to downsize FICC and cut costs, though financing beats

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SG to downsize FICC and cut costs, though financing beats

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A picture taken on September 14, 2011 shows the logo of the French bank Societe Generale in front of its headquarters in the business district of La Defense in Paris, France. Photo by Mario Fourmy/ABACAPRESS.COM | Fourmy Mario/ABACA/PA Images

Société Générale’s financing and advisory operations again produced strong revenues in the first quarter, according to results announced on Friday. Revenue in global markets and investor services fell, however, and here the bank is slashing risk-weighted assets, to refocus its business.

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