Market Overview

First Republic Bank Set to Join S&P 500

Share:

NEW YORK, Dec. 27, 2018 /PRNewswire/ -- First Republic Bank (NYSE:FRC) will replace SCANA Corporation (NYSE:SCG) in the S&P 500 effective prior to the open of trading on Wednesday, January 2, 2019. S&P 500 constituent Dominion Energy (NYSE:D) is acquiring SCANA Corporation in a deal expected to be completed soon pending final conditions.

First Republic offers private banking, private business banking and private wealth management, including investment, trust and brokerage services. Headquartered in San Francisco, CA, the company will be added to the S&P 500 Global Industry Classification Standard (GICS) Regional Banks Sub-Industry index.

Following is a summary of the change:

S&P 500 INDEX – JANUARY 2, 2019


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

First Republic

Financials

Regional Banks

DELETED

      SCANA

Utilities

Multi-Utilities

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has become home to over 1,000,000 indices across the spectrum of asset classes that have helped define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE:SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

FOR MORE INFORMATION:

David Blitzer

Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji_communications@spglobal.com

Cision View original content:http://www.prnewswire.com/news-releases/first-republic-bank-set-to-join-sp-500-300771173.html

SOURCE S&P Dow Jones Indices

View Comments and Join the Discussion!