June 19, 2008
On June 17, it was announced that Societe Generale SA, France's second largest bank by market value, purchased a 37 percent stake in Willkie client Rockefeller Financial Services Inc. Societe Generale Private Banking and Rockefeller & Co., the wealth management unit of Rockefeller Financial Services, will work together to offer services to individuals and families with at least $30 million to invest. Willkie also advised Rockefeller & Co. in the deal. Societe Generale's private-banking arm has about €71 billion under management, while New York-based Rockefeller has almost $30 billion under administration. The deal was handled by partners Gordon Caplan, Jim Brown, David Rubinsky and Pierre Ullman; and associates Douglas Cordiano and Jennifer Dudanowicz.