After several restructuring announcements made at the start of the year, the Societe Generale securitization team looks set to better embrace the number of opportunities available in the European market. Greg Medcraft, head of securitization at SocGen, discussed how the changes have helped integrate the bank's capabilities and have supported the growth within its European securitization group.
Medcraft said the team now has much more of an integrated capital market approach that sees assets transition from origination right through to distribution. At the beginning of the year, SocGen launched a fixed-income, currencies and commodities division, which is primarily investor focused. This new division includes an integrated financial engineering approach and a strengthened flow and structured products distribution: structuring (engineering, structured credit, securitization, and portfolio management), fixed-income and foreign exchange integrated flow business that includes Treasurys, commodities, sales and trading, as well as debt research. And within this group, SocGen incorporated its new global syndicate function. The European syndicate function is to be built on three key platforms: the existing securities syndicate, a new leveraged capital markets syndicate function and the nonleveraged finance syndicate.