Click for home page : Business Advice and Business Information
Sig Biz Advisors provide advice to help businesses Information for Small & Medium Sized Businesses Sig Biz Info Information on the global banking & Insurance sector Companies wishing to Merge or Acquire Commercial Insurance Quotations

your requested information item



ctt
Home page / Log-in

 
SigBizInfo Home |
 

Information on Banks


 

Information on Insurers

 

Information on Markets

 

Sig Biz Info Services


Search for Information


Computer Translations Übersetzungen Traductions Traduzioni Traducciones Traduções Oversettelse
 
Deutsche  Deutsche
Espanol  Espanol
Francais  Francais
Norwegian  Norsk
Portuguese  Portuguese
 
Freetranslation.com 
cbt
 

Date 17/11/2000
Companies BANCO SANTANDER CENTRAL HISPANO - SOCIETE GENERALE -
Subject SocGen and BSCH looking to jointly buy US asset manager
 
  Daniel Bouton, chairman of Societe Generale, said that the bank in conjunction with Banco Santander Central Hispano was intending to buy a US fund manager. He added that they had drawn up a list of five companies and that there were two possibilities left and three dismissed at this time.


The comment came in the Q&A session following the presentation to analysts of a very detailed business plan. Another comment made was that the bank had around €3.8bn it was prepared to commit to acquisitions in order to meet ambitious profit and growth targets.


That either of the European banks were looking for a US Fund Manager was no surprise, they would have been exceptional if they were not. The fact they were considering a joint bid was considered surprising however. BSCH took a 7% stake in SocGen during the hostile BNP Paribas bids for both SocGen and Paribas. SocGen has a 3% holding in BSCH. It is interesting that the comment came the same week as Fred Godwin, CEO, Royal Bank of Scotland talked of acquisitions in both the US and Europe. Godwin commented that the relationship with BSCH was very close and said the two banks may act together when the time was right. BSCH own in excess of 9% in Royal Bank and were helpful to the bank in several ways connected with the NatWest acquisition.
Copyright SigBizInfo Limited © 2000. All rights are reserved. Unauthorised redistribution is Illegal.
Get up to date information! The information on this web site for banking and insurance market information has not been updated since January 2002. The creators of futurevantage & SigBizInfo are now working with the Newslink team.

If you want newer information then for insurance go to: insurance newslink.

Soon there will also be a banking newslink service as well.
Go to banking newslink for the latest information on this new service.
Home page About the Sig Biz Group Sig Biz Group Privacy Policy Imposed site terms and conditions Sig Biz Group contact us & feedback form
©Copyright SigBizInfo Limited