SGSS wins Grindrod mandate 04 July 2011Johannesburg Reporter: Ben Wilkie
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Societe Generale Securities Services (SGSS) has been mandated in South Africa by Grindrod Asset Management, the asset management division of the Grindrod Bank Limited, to provide custody and trustee services for its Collective Investment Scheme.
This mandate results from SGSS’s strategy to add to its custody offering in South Africa by establishing global trustee services for collective investment schemes managers and pension funds and recognises the local and international expertise that SGSS has built up in the country. With the new trustee offering, SGSS becomes the first foreign bank being a trustee for collective investment schemes. SGSS now offers a full range of services to a client–base of asset managers and pension funds in South Africa.
SGSS’s overall offering in the country now includes both local and global custody, clearing & settlement services across all asset classes, as well as securities lending and treasury solutions. SGSS activities are headed by Hilda de Villiers, Head of Trustee and Custody for SGSS in South Africa.
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