The chief executive of a new brokerage business, formed from the broking divisions of French banks Société Générale and Calyon, has shrugged off this week’s turmoil in the world’s equity markets, arguing the new company’s credit rating and focus on derivatives leave it well placed to service investors, particularly hedge funds.

Patrice Blanc, the chief executive of new broker NewEdge, said: “The creation of NewEdge could not have come at a better time. We operate in fast-moving industry where current economic uncertainties create plenty of opportunities for us.”