SG allies with Japaninvest for bottom-up stock research

The relationship with a boutique house is intended to give Societe Generale the fundamental equities research that it has lacked in Asia.

Societe Generale has struck an alliance with London-based and Tokyo-listed Japaninvest, an independent equity research boutique. Under the terms of the deal, Japaninvest will remain independent, but will deliver all of its North Asia equity research via SG's platform.

Economic terms of the deal were not disclosed, but Japaninvest preferred an alliance versus an outright sale in order to preserve its independence, said Rupert Eastwood, Japaninvest CEO. Japaninvest analysts will, however, support SG's investment banking deals by assisting it on roadshows.

For SG, the benefit of an alliance is to also convince clients that the research is independent and not guided by underwriting assignments, said David Escoffier, global head...

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