Parel will continue to provide DvP settlement services to LCH and direct access to TARGET2 Securities (T2S).
The combined solution enables its asset manager clients to outsource as many services as needed across the pre- and post-trade.
SGSS will use its distribution network and its central services hub in Luxembourg to distribute Swisscanto Asset Management’s funds.
Assets under administration jumped 8.1% in 2017, while assets under custody slightly declined.
Societe Generale and UniCredit have been outsourcing partners since 2006, following the sale of 2S Banca, UniCredit’s securities services business.
Matthew Davey has joined Societe Generale following a career taking in spells at State Street, HSBC and JP Morgan.