Societe Generale Securities Services, the security services provider, has appointed Olivier Renault as country manager for Luxembourg, the firm said in a statement. Renault will replace Michel Becker.

Renault will report to the SGSS executive management. He has also been appointed to the executive committee of Societe Generale Bank and Trust, in charge of securities services.

Since 2006, Renault has been deputy head of SGSS in Milan where he focused on project integration and synergies with this subsidiary, which was acquired by Societe Generale that year.

He joined the French group’s human resources department in 1999, and was later appointed head of clearing at SGSS in France.

SGSS in Luxembourg offers international custody, fund administration and fund distribution services, as well as securities lending and borrowing and independent over the counter valuation services.

SGSS is the second largest European global custodian and with €3.2 trillion (about $4.1 trillion) of assets under custody.