BNP Paribas, HSBC and Societe Generale Create Joint Employee Savings Platform In France

Axa Epargne Entreprise, BNP Paribas ERE, HSBC and Societe Generale have created a EUR 213,607 joint platform for employee savings plan administration in France, a limited company under the banner Society Anonym Simplifier. Ownership of its capital will be updated

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Axa Epargne Entreprise, BNP Paribas ERE, HSBC and Societe Generale have created a EUR 213,607 joint platform for employee savings plan administration in France, a limited company under the banner Society Anonym Simplifier.

Ownership of its capital will be updated every year and will vary according to the volume of business given to it by each of the partners.

With 4 million accounts under management in the platform, Societe Generale had the highest stake in the joint venture, with 36.7%, following BNP Paribas with 33.5%, HSBC (18.1%) and Axa Epargne Enterprise (11.7%).

The chairman and CEO of the joint venture will be Nicole Roosz-Longobardi, with Xavier Colomer appointed as deputy CEO and Veronique Raby-Lemoine as chief operating officer (HSBC).

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