SGSS Appoints New U.K. Head of Trustee and Depositary Services

Societe Generale Securities Services (SGSS) has appointed David Painter as its new UK head of Trustee and Depositary Services.

Painter, who is also chairman of the UK Depositary & Trustee Association, will be responsible for launching and managing trustee and depositary services in the U.K. for a range of investment funds, including UCITS and alternative funds. SGSS says that as well as working to develop a new range of integrated client solutions, Painter’s appointment marks a key stage of the company’s wider development strategy to provide its U.K. clients with a more comprehensive and competitive set of securities services offerings.

These services will include asset safekeeping, cash monitoring and oversight duties, as part of a U.K. strategy to outsource solutions in order to provide wealth fund managers and asset managers with a complete post-trade value chain from global execution to global custody, extending through to full middle-office.

Based in London, Painter will report to SGSS’ Country Manager in the UK, Bertrand Blanchard, and its global head of Depositary Control, Michèle Blesse.

Painter has had various management roles in trust services, including stints at Midland Bank Trust Company, HSBC Securities Services and Chase Manhattan Trustees, a division of Chase Manhattan Global Securities. Painter continued with the successor organization, J.P. Morgan Trustee & Depositary Company, where he was appointed director of Trustee Client Relationships in 2001 followed by his appointment as director of Business Development in 2010.