Fontemp, the contractual pension fund for Italian temporary workers, has retained Societe Generale Securities Services (SGSS) in Italy to provide it with depositary bank services.
SGSS did not disclose the size of the mandate. However, Jeanne Duvoux, CEO and managing director of SGSS in Italy, said: Fontemp is the first contractual pension fund for Italian temporary workers employed by temporary work agencies with fixed and unlimited contracts. Hence, this typology of workers is expected to grow significantly in the forthcoming years. It is therefore a very important mandate for SGSS in Italy.
SGSS at the beginning of February announced it has been retained by BSI Wealth & Family SIM, a financial intermediary firm controlled by Swiss private wealth bank BSI, to provide custody and settlement services. BSI is part of Italian financial services group Generali.
(JDC)