SGSS mandated by the Italian Social Assistance Fund for Chartered Accountants to provide depositary bank services until 2020
SGSS in Italy (SGSS S.p.A.) has been confirmed by CNPADC, The National Social Assistance Fund for Chartered Accountants, to provide depositary bank services for the next 3 years.
Through this mandate, CNPADC will continue to benefit from SGSS’s complete range of post-trading services to support its business, with the aim of ensuring controls and transparency towards its members in a constantly evolving regulatory environment.
"The renewal of this mandate for a further three years consolidates our position as a key player in the pension funds and securities services industries in Italy, with over EUR 756 billion assets in custody” commented Frédéric Barroyer, Chief Executive Officer of SGSS S.p.A.. “We are very proud of the result; this demonstrates SGSS’s constant commitment in providing innovative solutions that meet the growing needs of our clients and the markets".
SGSS in Italy provides post-trade services to institutional investors such as custody & settlement, depositary bank and fund administration services, middle-office, liquidity management, transfer agent services and IT solutions for risk & performance management.
Initially established in 1963 as part of the Public Administration Assistance Fund for Chartered Accountants, fund was re-established in 1995 as CNPADC, one the most important private organizations in Italy providing social assistance to chartered accountants. In 2016, CNPADC reached over EUR 6.9 billion of assets under management.
 As at the end of March 2018
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Societe Generale is one of the largest European financial services groups. Based on a diversified and integrated banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 145,000 employees, based in 66 countries, we serve on a daily basis 31 million clients throughout the world. Societe Generale’s teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multi-channel financial services at the leading edge of digital innovation;
- International retail banking, insurance and financial services to corporates with a presence in developing economies and leading specialised businesses;
- Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Societe Generale is currently included in the main sustainability indices: DJSI (World and Europe), FSTE4Good (World and Europe), Euronext Vigeo (World, Europe and Eurozone), Ethibel Sustainability Index (ESI) Excellence Europe, 4 of the STOXX ESG Leaders Indices, MSCI Low Carbon Leaders Index.
For more information, you can follow us on twitter @societegenerale or visit our website www.societegenerale.com
Societe Generale Securities Services (SGSS)
Present in 27 locations worldwide, with 4000 employees, SGSS provides financial institutions and brokers, asset managers and insurers, and businesses with a full range of securities services adapted to the latest financial market and regulatory trends: clearing services, custody and trustee services, retail custody services, liquidity management, fund administration and asset servicing, fund distribution and global issuer services.
SGSS is among the top 10 global custodians and the second largest European custodian, with EUR 4,013* billion of assets under custody. SGSS provides custody and trustee services for 3,571* funds and the valuation of 4,118* funds, representing assets under administration of EUR 646* billion. SGSS also ranks among the European leaders in stock option management.
For more information, you can follow us on twitter @SG_SS or visit our website
*Figures at end of March 2018