Groupe BPCE becomes a shareholder in Scope Group
Groupe BPCE becomes a shareholder in Scope Group, Europe’s leading provider of independent credit ratings, ESG analysis and fund research.
By taking this equity interest in Scope Group, Groupe BPCE wishes to support a European initiative on the ratings market that has hitherto been dominated by major US agencies. Groupe BPCE reinforces the existing base of European shareholders, comprising AXA, B&C Beteiligungsmanagement, Foyer, HDI/Talanx, Signal Iduna, SV SparkassenVersicherung, Swiss Mobiliar and Germany’s largest foundation, RAG-Stiftung.
Scope is a financial and non-financial (ESG) ratings agency covering all asset classes (countries, companies, local government bodies, financings, etc.). It operates throughout Europe and employs over 300 people. It is also licensed by the European Securities and Markets Authority (ESMA) and the Swiss Financial Market Supervisory Authority (FINMA).
Florian Schoeller, CEO and founder of Scope Group said: “A truly European Rating Agency needs the acceptance and backing of the most important European investors and institutions. Welcoming one of the largest banking groups in Europe as a shareholder in Scope is a vote of confidence from another major capital market institution and proof that Scope is becoming an integral part of the European financial ecosystem.”
Sylvain Petit, Head of Strategy at Groupe BPCE said: “Groupe BPCE has decided to support Scope Group, a European project, because we are convinced that investors and regulators can benefit from a wider diversity of opinions and rating approaches. With methodologies that take European social and economic realities into account, Scope Group enhances the assessment of economic players in Europe.”
Scope Group is Europe’s leading provider of independent credit ratings, ESG analysis and fund research. It employs over 300 people in its offices in Berlin, Paris, London, Milan, Madrid, Oslo, Stockholm and Frankfurt. Chaired by Inès de Dinechin, the Group counts Paris as its second largest centre of activity after Germany. It is also licensed by the European Securities and Markets Authority (ESMA) and the Swiss Financial Market Supervisory Authority (FINMA). Scope is the only pan-European company in its category to provide genuine competition to the oligopoly held by US agencies.