SocGen and Calyon sign brokerage merger agreement

French investment banks Société Générale and Calyon have signed a final agreement to merge their brokerage activities, provided by Fimat and Calyon Financial. The operational launch of the new entity, to be known as Newedge, is scheduled for early 2008, subject to regulatory approval. Newedge will be controlled equally by the two partners and will be headquartered in Paris. It is expected to have a combined staff of 3000 employees, located in the world's main financial centres.