UniCredit signed a memorandum of understanding with Société Générale Securities Services extending for seven years the mandate as Global Custodian for several of its units until 2026
UniCredit and Société Générale Securities Services (SGSS) are pleased to announce their intention to renew their strategic partnership on securities services. Both partners have signed a memorandum of understanding on the extension of the current service management agreement for an additional 7 years. The agreement, in place since September 2006, covers custody, settlement and market data management services.
The extension of this partnership marks a milestone in the relationship between UniCredit and Société Générale and supports the sustainable and long-term growth of both institutions.
"We decided to extend a long and successful partnership with SGSS to allow UniCredit to benefit from our partner's expertise in the best interest of our customers and in line with the Transform 2019 objectives," said UniCredit's Global Co-COO Ranieri de Marchis.
Bruno Prigent, Global Head of Société Générale Securities Services commented: "We are extremely proud to be confirmed as a partner of reference by UniCredit. The deal underlines SGSS's commitment to help its customers navigate in a financial environment undergoing changes and provide them with high quality services."
SGSS S.p.A., Société Générale's Italian subsidiary, has operated for 12 years in Italy where it provides post-trade services to institutional investors such as custody, trustee and fund administration services to Italian funds and acts as local transfer agent to foreign funds.
Milan, November 23rd, 2017
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