SG Buys Meenan, McDevitt

Societe Generale has acquired Meenan, McDevitt & Co. Inc., a firm specializing in the sale of performing and nonperforming commercial mortgages, syndicated real estate, residential mortgages, and other types of loans.The terms of the acquisition were not disclosed. Twelve top officials from Meenan, McDevitt will join the firm as managing directors, with Kevin Meenan heading loan sales and Tom McDevitt heading portfolio sales for SG Americas. "The hiring of this highly respected team facilitates our transition into a leading distribution channel for our clients," said Jerry Johnson, SG's managing director and head of corporate banking. Societe Generale Securities Corp. is a subsidiary of Societe Generale USA, the third largest foreign bank in the U.S.