AllianceBernstein, Societe Generale launch Bernstein joint venture

AllianceBernstein (AB) and Societe Generale (SCGLY) announced the official launch of Bernstein, a joint venture creating a global cash equities and equity research business. The creation of Bernstein follows the original announcement of the plan to form the joint venture in November 2022. Bernstein provides institutional investors, corporates and financial institutions with investment insights into North American, European and Asia Pacific equity markets, in addition to liquidity access and global trading technology. With Bernstein, Societe Generale will now offer its clients a suite of global services across the equities value-chain, from equity and macro research to agency execution, equity derivatives, prime brokerage, and equity capital markets offerings. With over 750 employees serving clients globally, the joint venture is organized under two separate legal vehicles with a Head Office in New York covering North America and a Head Office in London covering Europe and Asia, complemented by major hubs in Paris and Hong Kong, and multiple regional offices. The ultimate objective of Societe Generale and AllianceBernstein is for Societe Generale to eventually own 100% of both entities after five years*. Robert van Brugge, previously CEO of Bernstein Research Services, has been appointed CEO of Bernstein, with Stephane Loiseau, previously Head of Societe Generale’s cash equities business, appointed Deputy CEO of Bernstein. The closing of the transaction has been approved by the relevant regulatory and antitrust authorities. The new brand capitalizes on the Bernstein name with a Societe Generale Group byline: