UniCredit SpA (UCG.MI) and Societe Generale Securities Services said on Thursday that they intend to renew their strategic partnership on securities services.
Unicredit signed a memorandum of understanding with SGSS, Societe Generale's (GLE.FR) Italian subsidiary, committing to extend their current service management agreement until 2026. The agreement covers custody, settlement and market-data management services and has been in place since September 2006.
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"We decided to extend a long and successful partnership with SGSS to allow UniCredit to benefit from our partner's expertise in the best interest of our customers and in line with the Transform 2019 objectives," said Ranieri de Marchis, UniCredit's global co-chief operating officer.
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(END) Dow Jones Newswires
November 23, 2017 03:15 ET (08:15 GMT)