Societe Generale says it is now free to focus its private banking activities on Europe, the Middle East, Africa and Latin America following the sale of its Asian business to DBS. The Asian private banking activities are predominantly focused on Hong Kong and Singapore. Societe Generale will receive $220m in cash from the deal, which […]
Societe Generale has agreed to sell to DBS its private banking activities in Asia operated in Singapore and Hong Kong, representing a total of $12.6bn of assets under management.
No market or region is immune to regular market knocks, but what has shocked Asian investors is the seeming inability of eurozone authorities to get to grips with their problems.