The French bank, Societe Generale, as well as two US banks, HSBC and Goldman Sachs, managed a total of about $1.3 billion for Libya. According to the Global Witness group, the Libyan Investment Authority held assets totaling $53 billion, of which a small portion ($335 million) was managed by the above US banks. SocGen alone managed about $1 billion of the assets, based on a 2010 document acquired by Global Witness.
The accounts managed by the American banks were denominated in US dollars, British pounds, Swiss francs, euros and Canadian dollars.
Both Goldman Sachs and HSBC declined to comment. |
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