Now the veteran head of high touch sales trading is out at SocGen
In theory, French banks are nice gentle places to work. In reality, this probably applies if you're in France with a French contract. In London, French banks churn through staff like all the rest - especially when they've entered into a joint venture which allows them to cut costs.
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SocGen sealed a joint venture with Alliance Bernstein for equities and research last April. As bonuses approach, it seems to be saying goodbye to longstanding and expensive staff.
The latest to leave is understood to be Martin "Tubby" Turner, the bank's veteran head of high touch sales trading.
Turner has been in the market since the 1980s and previously worked for HSBC, Credit Suisse and Macquarie before joining SocGen in 2020. He didn't respond to a request to comment and SocGen declined to say anything.
Turner isn't the only senior figure to leave SocGen in recent weeks. Last month, the bank also parted company with Toby Bayliss, the co-head of European trading.
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