Société Générale and UniCredit announce the completion of the transaction covering the sale by UniCredit of the securities business of the former Capitalia Group to Société Générale Securities Services (SGSS). This business represents assets under custody of €102 billion and a total of €27 billion in assets under administration in Italy and Luxembourg.
Total consideration for the transaction is €195 million, including Euroclear shares sold by UniCredit.
With the sale of the former Capitalia securities services activities to SGSS, the UniCredit Group continues to focus on rationalising its back-office operations and optimising its costs, whilst at the same time, by choosing SGSS, enhancing the service offered to its clients. As a result of this transaction, SGSS becomes the no. 2 global custodian in Italy and the exclusive provider of securities services to the UniCredit Group in the country.
With this move, SGSS has significantly consolidated its position as a European leader in global custody and its capacity to service the largest European clients such as banks, institutional investors and asset managers. Thanks to this acquisition, SGSS holds around €2,720 billion in assets under custody and approximately €480 billion in assets under administration.
Milan, Paris 1st April 2008
Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 151,000 people worldwide in three key businesses:
- Retail Banking & Financial Services: Société Générale serves 27 million individual customers worldwide.
- Global Investment Management & Services: Société Générale is one of the largest banks in the euro-zone in terms of assets under custody (EUR 2 583 billion, Dec. 2007) and under management (EUR 434,6 billion, Dec. 2007).
- Corporate & Investment Banking: Société Générale ranks among the leading banks worldwide in euro capital markets, derivatives and structured finance.
Société Générale is included in the five major socially-responsible investment indexes.
Société Générale Securities Services
Société Générale Securities Services offers a full range of securities services in:
- Execution, clearing, delivery and settlement
- Securities back-office outsourcing services
- Custody, trustee, transfer agent, fund and portfolio administration
- Employee Share Plan Management
Société Générale Securities Services currently ranks 8th worldwide custodian (source: globalcustody.net) with €2,583* billion in assets under custody. Société Générale Securities Services provides custody & trustee services for 2,934 funds* and the valuation of 5,122* funds representing assets under administration of around €444* billion. Société Générale Securities Services also ranks among the European leaders in stock option management.
Société Générale Securities Services is present on the main financial marketplaces and employs over 4000 people.
Société Générale Securities Services is part of Global Investment Management and Services (GIMS), one of the six business lines of the Société Générale Group, which also includes asset management (Société Générale Asset Management), private banking (SG Private Banking), execution and clearing of listed derivative products (Newedge) and direct banking (Boursorama).
*figures at end December 2007
With total assets of more than €1,000 billion, ranking among the top financial groups in Europe, UniCredit has a presence in 23 countries, with over 40 million clients and 9,000 branches, approximately 170,000 employees at 31 December 2007.
In the CEE region, UniCredit operates the largest international banking network with over 3,400 branches and outlets, where more than 70,000 employees serve approximately 17 million customers.
The Group operates in the following countries: Azerbaijan, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Kazakhstan, Kyrgyzstan, Poland, Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Turkey and Ukraine.
+39 02 88628236; e-mail: MediaRelations@unicreditgroup.eu
+39 02 88628715; e-mail: InvestorRelations@unicreditgroup.eu