Société Générale: We Have Earned Zee Right To Partee

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Special guest appearance by you know who? Fingers crossed.

Please save the date of December 17 for our annual holiday party, which will again be held in the Rainbow Room in New York. After much discussion surrounding the current economic climate we have decided to proceed with the event given the hard work and dedication of staff. Our annual gathering has always been a time to come together to celebrate the holiday and our collective accomplishments. We have achieved much during a tremendously difficult period, but it is even more important this year to acknowledge your resilience in meeting the many challenges we have faced. We will also take the opportunity that evening to showcase the volunteering efforts of our staff which will benefit local charities. You will hear more about this and receive a formal invitation shortly.

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Bonus Watch '12: Société Générale

The French bank has some very angry little mistmakers on its hands. "Societe Generale paid their 1st year investment banking analysts between 15k-50k in bonuses. Most juniors were furious, especially since this is 20-40% lower than Street. The firm is continually declining in the Americas within investment banking, and has reduced tremendous headcount over the past year. It relies heavily on trading revenues from derivatives, with very little resources dedicated to M&A, ECM, and DCM. In a period where other banks are cutting operations in the US, SocGen leads the pack in decline. In February 2012 head of CIB, Didier Valet, said that the firm would not compete with bulge brackets. Regardless of these negatives, SocGen continues to say that it is a top investment banking player. They are not, and juniors on Wall Street should know before entering into this trap."