Société Générale (SocGen) will
be closing its South African equity warrants operations (with a
team of three traders) in March, as part of the group's move to
downscale its global investment banking operations, it
announced last week. The French bank used to be one of the
biggest warrants players in the local market - a year ago it
boasted about a 30% market share but, when it closed its
securities business early last year, it began losing business
to large local players such as Standard Bank and Investec.
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