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UniCredit: Closing of the 2S Banca sale to SocGen

UniCredit announces the legal completion of the sale of its securities services business - 2S Banca S.p.A., the 2nd largest custodian in Italy - to Societé Générale Security Services (SGSS), for a total amount of € 579.3 million.

The UniCredit Securities Services business acquired by SGSS includes Custody, Clearing & Settlement, Depositary Bank, Fund Administration and Transfer Agency for clients in Italy, Luxembourg, Dublin and Hamburg. A total of 435 staff, of whom 376 are based in Italy, have been transferred to SGSS. 

Following the sale of 2S Banca, Société Générale Security Services (through 2S Banca) becomes the UniCredit Group provider of securities services.

The divestiture of 2S Banca and the externalizing of 2S Banca's activities are consistent with UniCredit's aim to enhance its service levels to customers, actively managing its business portfolio and optimising its capital position.


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