The French bank Société Générale and the U.S. wealth manager Rockefeller Financial Services have formed an alliance in private banking, an area that has remained relatively resilient to the global credit crunch.
As part of the deal, SG Private Banking has bought a 37 percent stake in Rockefeller Financial Services, the companies said Tuesday. They did not say how much the French bank paid for the stake, but a person with direct knowledge of the matter said it had bought the stake for "around $100 million."

Full story: iht.com