Allen & Overy Advised Societe Generale In Launch Of Bernstein, A Leading Entity In Cash Equities And Equity Research
Allen & Overy Advised Societe Generale In Launch Of Bernstein, A Leading Entity In Cash Equities And Equity Research
Allen & Overy, in collaboration with Shearman & Sterling, has provided legal counsel to Societe Generale in the successful official launch of Bernstein, a ground-breaking joint venture with AllianceBernstein. This venture positions Bernstein as a pioneering force in equity research and cash equities, marking a significant milestone for both organizations.
The establishment of Bernstein comes after the initial announcement of the joint venture project in November 2022. With a workforce of over 750 employees catering to clients worldwide, the joint venture operates through two distinct legal entities. It boasts a Head Office in New York, overseeing operations in North America, and another Head Office in London, managing affairs in Europe and Asia. Furthermore, the venture is supported by major hubs in Paris and Hong Kong, along with several regional offices.
The transaction has received approval from relevant regulatory and antitrust authorities, paving the way for the official launch of Bernstein. This move aligns seamlessly with Societe Generale's strategic priorities, emphasizing the promotion of high-performing and sustainable activities aimed at generating consistent commission-based results. Notably, the impact on the Group's CET1 capital ratio is minimal, standing below 10 basis points.
Leading the legal efforts for Societe Generale was Guillaume Isautier, a corporate/M&A Partner at Allen & Overy's Paris office. The teams from Allen & Overy and Shearman & Sterling collaborated closely on this initiative, ensuring its smooth execution.
The Allen & Overy and Shearman & Sterling teams were made up of:
On the Allen & Overy side:
Paris: Martin Chassany (Counsel), Gaspard Bastien-Thiry (Senior Associate), Astrid Achard-Hoffman, Gaëtan Le Bris, Florian Imbert, Yahn Van Kalck (Associates)
London: Hugh Robinson, Emma Willoughby, Vicky Wickremeratne, Joyce Leemrijse, Astrid Krueger, Florian Lechner, Jaroslaw Iwanicki, Tokutaka Ito, Peter Van Dyck, Keren Livneh (Partners), Stephen Mathews, Preethi Correa, David Merlin-Jones, Juan Jose Sanchez, Rens Bondrager, Sebastian Schulz, Florian Lechner, Lisa Wantzen, Maciej Szykut, Tokutaka Ito, Peter Van Dyck, Eline D'Joos, Natalie Montano Young (Senior Associates), Paul McKay, Casilda de las Cuevas, Alejandra Puig, Ishara Gamage, Kaoutar Laachir, Joy Kloosterman, Tiago Rittner, Antonia Waltz, Soeren Rathjens, Brunon Surma, Pawel Grzesik, Shiori Nishizawa (Associates)
On the Shearman & Sterling side:
Paris: Anne Sophie Maes (Counsel)
London: Thomas Donegan, Matthew Readings, Simon Letherman (Partners), Olivia Merret, Kristina Killick, Nicholas Ormondroyd, Mark Steenson (Associates)
New York: Jennifer Morton, Mark Chorazak, Derrick Lott, Larry Crouch, JB Betker (Partners), Taylor Pugliese, Drew Elphick, Matthew Brown, Austin Grossfeld, Melisa Brower (Associates)
