French banks revive interest in US presence

12/5/2012 | Reuters

Societe Generale and BNP Paribas are exploring opportunities to expand in the US, bankers say. "Five years ago, we would have hired a team of 10, 20 people and really gone for it ... Today, we're looking at a smaller number of possible hires and really seeing where we can add value," a SocGen source said. The banks might be indicating interest in equity derivatives, fixed income, private banking or mortgage securitisations, industry observers say.

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