Société Générale’s revamp of its investment bank, first announced in April, will refocus the bank’s financing efforts around sponsor-driven business, as corporate clients are not steering enough fees towards the bank to pay for its balance sheet commitments.
In April, Société Générale said it would refocus its investment bank, cutting around 1,600 jobs from across the group, to focus on trading. In markets, the bank said it would shut its over-the-counter commodities business and proprietary trading.
In investment banking, the French bank reorganised its
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