U.K. Loses Another Primary Dealer as Societe Generale Quits
- Follows Credit Suisse's exit from the role in October
- French bank will focus on `core activities,' spokesman says
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Societe Generale SA resigned as a primary dealer for U.K. government bonds, the second market maker to exit in just over three months.
The French bank’s resignation follows Credit Suisse Group AG’s decision to leave its role in October, which was the first such move since December 2011. SocGen will end its role in both the conventional and index-linked markets as of the close on Feb. 5, the Britain’s Debt Management Office said in a statement on Friday.