Societe Generale has been selected to service assets worth a total of Euros 70 billion managed by AGF, the French insurer . The services include custody, trustee and transfer agent and registrar services.
“Socit Gnrale was selected based on a number of reasons : custody of all kinds of financial instruments; efficient IT tools and high ratings by Fitch and Moody’s,” says Bruno Prigent, Global Securities Services Managing Director, Socit Gnrale. “The geographical coverage of our custody services was also a competitive advantage. This pitch was one the largest on the Paris market since some time. This success highlights the global aspect of our offer to investors and asset managers.”
AGF, which is now part of the Allianz Group (which has a 59.3% stake in AGF) is the third biggest insurance group in France.