Societe Generale Securities Services (SGSS) has completed the migration of Pioneer Investments funds in Luxembourg representing 75 billion of assets under custody.
The transfer of 136 UCITs and 626 share classes means SGSS is now one of the largest providers of securities services in Luxembourg.
The deal with Pioneer involved the transfer of custody, clearing and settlement, depositary bank, fund administration and OTC pricing services. Today, SGSS provides this whole range of services to Pioneer in Italy, Luxembourg, Ireland and Germany.
This migration marks the end of a project that was initiated at SGSS almost two years ago. During this period, SGSS mobilised teams in several locations and recruited 150 new staff.