Société Générale (EURONEXT: GLE) and AllianceBernstein (NYSE: AB) officially launched Bernstein, a joint venture in global cash equities and equity research. The venture marked a significant milestone for both companies. Bernstein aims to offer premier investment insights into North American, European, and Asia Pacific equity markets, enhanced liquidity access, and advanced global trading technology.

Bernstein’s team of over 750 employees operates globally, including in Canada, with head offices in New York and London, and major hubs in Paris and Hong Kong. Société Générale plans to acquire 100% ownership of Bernstein within five years. Robert van Brugge, former CEO of Bernstein Research Services, was appointed CEO of Bernstein, and Stephane Loiseau, former Head of Société Générale’s cash equities business, became Deputy CEO.

Slawomir Krupa, CEO of Société Générale, highlighted the joint venture as an innovative expansion of their client services. Seth Bernstein, CEO of AllianceBernstein, emphasized Bernstein's commitment to providing top-tier research and insights.

The venture received approval from relevant regulatory and antitrust authorities. The launch aligns with Société Générale’s strategy to boost stable, fee-based client revenues, with minimal impact on its CET1 capital ratio.