Societe Generale’s Securities Services’ global fund trading activities in Luxembourg are to be transferred to distribution platform MFEX, following a long-term partnership deal reached by both companies.
As part of the agreement, Stockholm-headquartered FinTech firm MFEX will manage post trade fund services currently operated by Societe Generale Luxembourg. The current team working on these activities will also be integrated into MFEX.
Societe Generale Securities Services (SGSS) country manager in the Grand Duchy, Mathieu Maurier, said the move will “enrich its global offering” for asset managers and financial institutions by leveraging MFEX’s international fund distribution services.
Both firms have collaborated before over the last several years. For MFEX co-chief executive, this partnership represents “a natural continuation”. It would also strengthen MFEX’s presence in Luxembourg, he said.
SGSS would continue to provide its clients with its global service offering, combining its expertise with the “know-how” of MFEX, according to Maurier.
One of the largest custodians in Europe, SGSS is present in 26 locations worldwide and represents €629 of assets under administration.
MFEX offers services in 51 countries, providing access to over 70,000 funds.
©2019 funds europe