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Gundlach Says SocGen CEO Has ‘No Idea What He Is Doing’
Gundlach Says SocGen CEO Has ‘No Idea What He Is Doing’
08 Feb 2019, 01:53 PM IST
(Bloomberg) -- DoubleLine Capital CEO Jeffrey Gundlach had tough words for the head of Paris-based Societe Generale SA after its shares fell to a five-year low on Thursday.
The French bank said earlier in the day that it’s shrinking its markets business and cutting an additional 500 million euros of costs to combat a market rout that sent trading revenue tumbling.
Societe Generale did not immediately respond to requests for comment.
To contact the reporter on this story: Nathan Crooks in Miami at ncrooks@bloomberg.net
To contact the editors responsible for this story: Clementine Fletcher at cfletcher5@bloomberg.net, Morwenna Coniam
©2019 Bloomberg L.P.
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