Societe Generale Securities Services has launched a wealth and investment management outsourcing solution for the UK, highlighting how big banks see the wealth sector as a revenue stream for such business.

Societe Generale Securities Services, part of Societe Generale, the French banking group, has launched what it calls a fully integrated wealth and investment management outsourcing solution for the UK, highlighting how big banks see the wealth sector as a revenue stream for such business.

Aimed at mid-tier wealth and investment fund managers, the solution covers the full post-trade value-chain from global execution to global custody.

SGSS said it has developed a “real front-to-back” office wealth management solution in partnership with JHC, specialists in IT solutions.

The business argued that rising costs pressures from regulations, among other forces, are forcing middle-size fund and wealth managers to outsource operational functions to stay competitive – which is where providers such as SGSS come in. (Societe Generale’s French rival, BNP Paribas, also has a large securities services arm. A number of international banks, such as BNY Mellon through its Pershing business, operate in this space.)

The SGSS solution supports integrated execution services and liquidity support; middle- and back-office services; segregated portfolio processing; master books and records; multi-product clearing and settlement processing; global settlement and local custody with multi-currency capabilities; fund administration services.

Additional ancillary services include foreign exchange services; liquidity and securities lending; asset servicing and reporting services, and risk and regulatory reporting.

“We aim to be a key partner to our clients,” comments Mike Le Garignon, head of sales, business development and relationship management in the UK.

“SGSS has designed a fully integrated front-to-back offer of services, with a competitive and client-aligned pricing strategy to ensure it represents both good value and a partnership that enables growth for our clients. By doing so, we provide our clients with important operational efficiencies as well as significant new business opportunities so they can stay ahead of the competition as the industry continues to evolve in response to regulatory and structural changes,” he said.