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An aerial shot of downtown Calgary looks northwest towards the Calgary tower and the new Bow building on the right.
An aerial shot of downtown Calgary looks northwest towards the Calgary tower and the new Bow building on the right.
(Chris Bolin For The Globe and Mail)

FirstEnergy, SocGen sever partnership

FirstEnergy Capital Corp. and Société Générale SA have ended a nine-year partnership, with the Paris-based investment bank selling its minority stake back to FirstEnergy for an undisclosed sum.

The alliance helped the Calgary financial services company expand its financing, research and merger and acquisition business to worldwide clients. But it has bolstered its presence on its own with an office in London, and said the two organizations have been “moving in different directions over the past few years.”