The joint venture will provide investors with investment advice, insight into equity markets in the US, Europe and Asia Pacific, as well as unparalleled access to liquidity and cutting-edge execution technology.
The combined entities will combine complementary strengths and present a joint vision of a benchmark player in equity brokerage and research to meet the needs of investors and issuer clients.
Societe Generale will acquire a 51% stake in the joint venture, with an option to allow it to access 100% after five years. The activity, which will be headquartered in London, will be managed in the form of a long-term partnership between its shareholders under the name of Bernstein.
Upon completion of the transaction, Robert Van Brugge, the current managing director of Bernstein Research Services, will become managing director of the new entity for an initial period of five years.
Stéphane Loiseau, currently head of the cash equity business at Societe Generale, will take over as Executive Vice President.