MILWAUKEE, Jun 14, 2010 (BUSINESS WIRE) --U.S. Bancorp Fund Services, LLC (USBFS) and Société Générale Securities
Services (SGSS) announce the launch of their Global Securities Services
Alliance TM (GSSA). This commercial alliance leverages each
organization's geographical and product expertise to provide
comprehensive fund services for all U.S. and non-U.S. domiciled funds
with complete securities services and broader global support.
"The growing interest for global distribution is quite compelling. We
are pleased to offer this innovative commercial alliance with SGSS, one
of the leading European investment management services providers. Their
European expertise and presence, both in the product offerings and in
the countries where they are distributed, will provide our clients with
strong regulatory support, distribution services, and global access to
investor market trends across Europe," said Joe Redwine, president of
The GSSA commercial alliance between USBFS and SGSS combines both
company's service models to offer global administration, shareholder
servicing, distribution support, capital introduction support, product
development, securities lending, trustee services, credit facilities,
and middle office solutions. Investment managers seeking a single source
for servicing global products are able to receive 24-hour global support
through the specialized talent and expertise of two top-tier firms
through this unique service offering. Each organization brings
significant industry tenure and best-in-class reputations within their
respective local markets.
"Our commercial partnership with U.S. Bancorp Fund Services provides
investment managers the financial strength of both organizations and
allows clients to access industry leading technology, key administration
services, and the tools necessary to be successful in the global
investing market. Clients benefit from premier transatlantic services
that are not necessarily available today through one single
organization," said Alain Closier, global head of Société Générale
About U.S. Bancorp Fund Services, LLC
Since 1969, U.S. Bancorp Fund Services has supported investment
managers, banks, and broker-dealer firms sponsoring mutual funds with
assets ranging from the level of start-up to $88 billion. Established
exclusively to serve the unique needs of registered and unregistered
products, we are headquartered in Milwaukee, Wisconsin and provide
comprehensive mutual fund and alternative investment services to 273
fund complexes with 1,635 portfolios and aggregate assets of $590
billion. Visit U.S. Bancorp Fund Services at www.usbfs.com.
U.S. Bank does not guarantee the products, services or performance of
its affiliates and third party providers.
Societe Generale is one of the largest financial services groups in the
euro-zone. The Group employs 157,000 people worldwide in three key
Retail Banking, Specialised Financing & Insurance: Societe Generale
serves 32 million individual customers worldwide.
Private Banking, Global Investment Management & Services: Societe
Generale is one of the largest banks in the euro-zone in terms of
assets under custody (EUR 3,246 billion, March 2010) and under
management (EUR 164 billion excluding Amundi, March 2010).
Corporate & Investment Banking: Societe Generale tailors solutions for
its clients across sectors by capitalising on its worldwide expertise
in investment banking, global finance, and global markets.
Societe Generale is included in the socially-responsible investment
indexes: FTSE4Good and ASPI. In 2010, the title of SAM Sector Mover was
awarded to Societe Generale.
Société Générale Securities Services (SGSS)
Established in 28 locations worldwide with more than 4,000 employees,
SGSS provides a full range of securities services that are adapted to
the latest financial markets and regulatory evolution: clearing
services, custody and trustee services, retail custody services,
liquidity management, fund administration and asset servicing, fund
distribution and global issuer services.
SGSS is the 6th largest worldwide global custodian and the 2nd
largest in Europe with 3,246* billion euros of assets under custody.
SGSS provides custody & trustee services for 2,946* funds and the
valuation of 4,555* funds, representing assets under administration of
459* billion euros. SGSS manages and calculates the current value of
30,000* "complex product" positions. SGSS also ranks among the European
leaders in stock option management.
*at March 31, 2010
SOURCE: U.S. Bancorp Fund Services, LLC
U.S. BANCORP CONTACTS
Amy Frantti, Media Relations
Mark Pawlyshyn, Marketing Manager
SOCIÉTÉ GÉNÉRALE CONTACTS
Jolyon Barthorpe, Press Relations
+33 1 42 14 34 55
Elisa O'Neill, Press Relations
+33 1 42 14 39 24