Tag Archives: socgen

SocGen reducing China fund venture stake – sources

Forbes – French bank Societe Generale (SocGen) plans to reduce its holdings in its China fund joint venture due to regulatory concerns after a global reorganisation, two people familiar with the situation said. SocGen already owns a fund venture with […]

SocGen fund managers leave to create own fund

Reuters – A team of hedge funds managers at Societe Generale is leaving to set up their own hedge fund with capital from the French bank, La Tribune reported on Tuesday. The paper said the move was led by Arié […]

Greek Isles enters bankruptcy; owner says fault lies with fund

ReviewJournal.com – The majority owner of the Greek Isles blamed "greedy hedge-fund guys" interested in wiping out the current owners’ equity stake for pushing the property into Chapter 11 bankruptcy Monday. Harold Rothstein said the Greek Isles’ creditors have already […]

SocGen, Agricole to merge asset management units

Reuters – Societe Generale and Credit Agricole have signed a preliminary agreement to merge their asset management arms and create a top 10 global player, the French banks said on Monday. The new company will be 70 percent owned by […]

French Trader Detained After Losing $1 Billion

New York (HedgeCo.Net) – French officials have arrested a trader who allegedly lost more than $1 billion in complex derivative trades.  Boris Picano-Nacci of mutual bank Caisse d’Epargne was taken in for questioning last week, days after the loss forced […]

Russian Trader Looses $50 Million In Risky Trades

West Palm Beach (HedgeCo.net) – Moscow’s The Statesman reports that a Russian rogue trader lost his investment bank up to $50 million in risky trades that went wrong in the financial crisis, the Vedomosti business daily reported today. Quoting unnamed […]

Hedge fund chief warns of worse to come

Financial Times- A hedge fund manager who made some of the biggest profits from the global credit crisis said on Wednesday there was worse to come as evidence mounted that banks are struggling to regain their earnings power and properly […]