Which specific businesses is SocGen ceasing or reducing?

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SocGen is Ceasing and Reducing Specific Business Operations to Improve Profitability

Societe Generale (SocGen) is ceasing operations in proprietary trading and over-the-counter (OTC) commodity trading. The bank is also reducing the scale of its fixed-income arm as part of a broader restructuring plan aimed at enhancing profitability. These strategic shifts follow a period of poor performance, with the bank having announced a plan to cut €500 million in costs at its corporate and investment banking division earlier in the year.
Cessation of Proprietary Trading

SocGen will completely discontinue its proprietary trading activities. This decision comes as the bank acknowledges that this particular business segment has consistently failed to achieve equilibrium or profitability. The move is a direct response to the underperformance of this area within the bank's corporate and investment banking arm.
End of Over-the-Counter Commodity Trading

The bank also intends to end its involvement in over-the-counter (OTC) commodity trading. This business line, alongside proprietary trading, is being phased out as part of the restructuring efforts. The aim is to streamline operations and focus resources on more profitable ventures.
Reduction in Fixed-Income Arm

In addition to ceasing certain businesses, SocGen is also scaling back its fixed-income operations. This involves a reduction in the size of this arm, indicating a strategic re-evaluation of its presence and commitment to this market segment. Associated jobs within support functions are also subject to cuts as part of this overall reorganisation.

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Which specific businesses is SocGen ceasing or reducing?

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