Euro-VL, the French fund administration business acquired by Societe Generale in 2001, is expanding its operations to Luxembourg and Dublin, by taking over Societe Generale Bank & Trust’s activities in the Grand Duchy and SG Asset Management (Ireland) Limited’s fund administration activities in the Irish capital.
Societe Generale says both steps conform to a strategy outlined by the Societe Generale Group at the time of the acquisition of Euro-VL in 2001 to develop its international fund administration activities. With the creation of Euro-VL Luxembourg in December 2002 and Euro-VL (Ireland) in January 2003, the Euro-VL Group is expanding outside France for the first time.
“The support of the Societe Generale’s global securities services and more particularly its international network combined with the know-how of our teams and the diversity of our current clients will strengthen the development of our international activities and enable us to become a recognized player in each country where we become established,” says Serge Jacqueline, Chairman & CEO, Euro-VL.
Euro-VL offers fund accountancy and valuation; fund structuring and corporate administration; and compliance and transfer agency.
Euro-VL currently values 2,950 funds with assets under management of Euros 210 billion euros on behalf of 110 clients. Euro-VL has 500 employees, four out of five of which are dedicated to fund and portfolio administration.