Newedge embarks on prime broking expansion drive

Agency brokerage Newedge plans to focus on prime brokerage now that it is solely owned by Société Générale and does not have to contend with competing shareholders. After SG acquired the remaining 50% stake in Newedge that it did not already own from Crédit Agricole in May, it has worked on building up its prime broking and execution services, said Laurent Cunin, head of Asia Pacific for Newedge. He told AsianInvestor that while Newedge would benefit from SG’s capabilities in eq…