Socit Gnrale Securities Services (SGSS) has been appointed by Deutsche Bank AG to act as sub-custodian for its proprietary and client assets in Egypt, following an extensive due diligence process.
The migration of assets to SGSS was successfully completed September 11.
The SGSS custody platform in Egypt will provide Deutsche Bank with a range of services centered on custody and settlement. The platform builds on Socit Gnrale Groups experience in the country, where it has been providing custody services to domestic clients for more than 30 years through its subsidiary National Socit Gnrale Bank (NSGB).
Earlier this month, Deutsche Bank was appointed by Socit Gnrale Securities Services to provide sub-custody services for the French institution’s activity in Hong Kong.
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(CM)