Société Générale, the French bank, has shut its equities division in Singapore less than a year after it closed its Asian equity sales and research arm based in Hong Kong.

Fourteen people will lose their jobs in Singapore following the closure, while four will be re-located to SG's Hong Kong office that the bank intends to use as a hub for its Asian activities. SG will continue to offer corporate and investment banking, asset management and private banking in the region.