What actions has BNP taken to grow its equities business according to the text?
SocGen, AllianceBernstein to Form Cash Equities JV
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The transcript discusses the merging of equities trading businesses, focusing on a joint venture where SocGen will hold a 51% stake. The deal is expected to close by next year, with an option for SocGen to acquire the entire business within five years. The discussion highlights the competitive landscape, particularly BNP's strategic acquisitions and growth in the equities market. The new CEO of SocGen, Slava Krupa, aims to expand the bank's business to remain competitive.
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What are the implications of the new CEO's plans for the bank's future?
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