SOUTHPAW: SG, BNPP look for profit through advisory
A shift away from turbo-charged equity derivatives businesses and a renewed focus on clients was the message from both BNP Paribas and Société Générale last week, but how will the businesses fare as they move ever further away from their French roots?
The clients-come-first investment banking fashion hit Boulevard des Italiens and La Defense last week as BNP Paribas and Société Générale each announced corporate advisory and financing initiatives as they reported their 2008 results.Both banks threw a note of intrigue into their announcements. At SG, Olivier Khayat who was ...
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