BNP Paribas was appointed to provide global custody services to the Italian pension fund's €2 billion of assets in 2019.
The mandates adds to a growing list of Soc Gen’s depositary and fund administration business wins across Europe.
Mandate win follows depositary investments throughout Europe from BNP Paribas Securities Services.
The appointment comes at a crucial time for BNP Paribas Securities Services as it looks to bolster its business in the region.
BNP Paribas has been active in the depositary acquisition space in recent years, after acquiring Italy's third largest depositary bank in 2018.
SGSS has grown into a leading securities service provider in Italy with over €698 billion in assets under custody.
BNP Paribas Securities Services has emerged as a leading derivatives clearing provider in Italy, having won a number of clearing and collateral management mandates.
The Single CSD model currently covers the Euroclear Settlement of Euronext-zone securities (ESES) markets.
BNY Mellon will become the sub-depository for the custody of foreign equity assets from the first quarter of 2019.