Bernstein hired a top equity sales trader in London, and possibly one other. 4 hours ago BNP Paribas may be losing people from Exane, but SocGen is hiring people for its joint venture with Alliance Bernstein. SocGen initiated its "Bernstein" joint venture with Alliance Bernstein two years ago, with the intention of acquiring 100% of the entity by 2029. Encompassing cash equities and equity research, Bernstein began by employing 750 people. Earlier this year, it made some significant job cuts in France. Now it seems to be hiring in London. Bernstein didn't respond to a request to comment for this article, but multiple sources tell us it's hired Tristan Hedley, an equities sales trader from Berenberg. Hedley didn't respond either but the FCA Register shows him leaving Berenberg on July 1st. Presumably he's having a little break before joining. Hedley spent 11 years at Berenberg and is understood to have been a popular figure there. He may not be Bernstein's only hire. The JV is also thought to have recruited Katrina Pattemore, a veteran equities trader from BNP Paribas who quietly quit the French bank in late 2024. Pattemore's arrival hasn't been confirmed but is widely thought to be occurring soon. SocGen's joint venture with Alliance Bernstein is intended to increase the standing of its equities business. SocGen chief executive Slawomir Krupa is also orchestrating a push into cash prime brokerage, and has hired 20 people. Bloomberg said in June that more equities hires were likely. Risk said the bank is also building its quantitative investment strategies business and has moved into systematic equity dispersion in which the volatility of an index is shorted while long positions are taken into the volatility of individual stocks. Revenues in SocGen's equities sales and trading business rose by less than 5.5% in the first quarter, versus an increase of 38% at Citi. Much like Exane and BNP Paribas, Alliance Bernstein and SocGen's joint venture amounts to the fusion of a research-focused business with a historic equity derivatives house. This is not necessarily easy to achieve. Have a confidential story, tip, or comment you'd like to share? Contact: +44 7537 182250 (SMS, Whatsapp or voicemail). Telegram: @SarahButcher. Signal: sarahbutcher.22 Click here to fill in our anonymous form, or email [email protected]. Bear with us if you leave a comment at the bottom of this article: comments are moderated intermittently by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. You must take sole responsibility for comments you post on this site. We will take reasonable steps to weed out anything that we consider to be offensive or inappropriate. The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits. Boost your career. Find thousands of job opportunities by signing up to eFinancialCareers today. Top Articles Recommended Jobs Arab Banking Corporation Dubai, United Arab Emirates Alexander Chapman New York, United States

Bafin removes Berenberg's top executives amid corporate governance concerns. Friday, Jun 19, 2026 10:39 am ET 1min read Berenberg's management has been suspended by the German financial regulator Bafin due to potential corporate governance breaches. The bank's three management members, Hendrik Riehmer, David Mortlock, and Christian Kühn, have been replaced by former CEO Hans-Walter Peters and former Degussa-Bank executive Michael Horf. Berenberg expects a €20 million profit for 2025 and a €40 million profit for the first half of 2026. Ask Aime: What's the impact of Berenberg's management suspension on investor confidence? Germany's financial regulator, BaFin, has taken action against Oldenburgische Landesbank AG (OLB) for multiple compliance failures under the German Securities Trading Act (WpHG). The bank was fined €910,000 ($992,000) for breaches that occurred between 2020 and 2021, including inadequate IT controls that failed to block sell orders during securities delivery delays, exposing client assets to risk. Additionally, OLB did not provide sufficient transparency to clients regarding cost components of bundled financial products, such as investment funds combined with deposit account vouchers. The bank also failed to disclose third-party inducements in accordance with legal requirements. BaFin emphasized that these shortcomings reflect broader weaknesses in governance and risk management, underscoring the importance of strict adherence to regulatory standards. The regulator reiterated that firms must uphold transparency, client protection, and robust internal controls to avoid penalties. Under the WpHG, violations can result in fines of up to €5 million or 10% of total revenue. This case highlights the growing regulatory focus on compliance and client safeguards in the German financial sector. Aime insights. What's the current performance of key Chinese companies listed on US stock exchanges? Could you recommend some U.S. growth stocks with strong market positions? Could you recommend defensive stocks that perform well in inflationary environments? Which stocks are commonly held by Cathie Wood and Pelosi?

Berenberg has downgraded CrowdStrike from Buy to Hold, citing valuation concerns despite strong business fundamentals. The cybersecurity firm trades at approximately 30 times forward enterprise value-to-sales, second only to Palantir among software companies tracked by the investment bank. The downgrade follows CrowdStrike's solid fiscal 2027 start, which exceeded expectations. Berenberg raised its price target to $720 from $525 but sees limited upside with shares trading around $693. Analysts noted the market is pricing in nearly flawless execution, assuming 15% long-term annual revenue growth and 19% free cash flow growth. Berenberg remains positive on CrowdStrike's expansion into cloud security and AI-powered products, describing it as one of cybersecurity's highest-quality franchises. The company plans a 4-for-1 stock split effective 2 July 2026.