Europe’s banks smother their fund offspring LiamWardProud
Société Générale is preparing to launch the sale of its asset management arm Lyxor as the French lender seeks to shore up its finances, Reuters reported on Sept. 20, citing two sources familiar with the matter.
France’s third-biggest bank has hired Citigroup to oversee the sale, which is expected to kick off in the fourth quarter, the sources added.
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