SGSS UK wins South African outsourcing business

Table mountainSociete Generale Securities Services (SGSS) in the UK has won an investment outsourcing mandate from PSG Wealth, a South African wealth management firm. The mandate covers PSG Wealth’s foreign assets. PSG Wealth is part of South African financial services group, PSG Konsult, and SGSS will provide an execution and investment administration outsourcing service in support of PSG Wealth’s end-investors who use its direct-to-client online wealth and broker-dealer platforms. PSG has integrated an SGSS interface directly into its deal inception order management system. SGSS – which also provides custody safekeeping at a segregated client account level – says it was selected by PSG partly for its capacity to engage very specific target audiences. SGSS’s wealth and investment management outsourcing solution is designed for wealth and investment managers, private banks, direct dealing/broking firms and advisory firms. It spans activities from execution to custody and also has a “unique” best-of-breed portfolio management platform. ”The need to ensure the sustainability of their operating models is pushing managers and brokers to drive down trade execution fees and carefully outsource investment operations,” says Michael Le Garignon, head of sales, business development and relationship management at SGSS in the UK. ©2015 funds europe

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