Société Générale Securities Services to focus on digitisation, ESG Societe Generale Securities Services (SGSS) has identified further digitisation and the development of its environmental, social and governance (ESG) offering as key themes for 2022. By Perle Battistella Speaking to Global Investor, David Abitbol, head of SGSS, says: “2021 was a very good year for Societe Generale as a whole and SGSS specifically. Markets were very active, so we benefited, amongst others, from the volumes and market valuations. While we are still in the pandemic, what I see when I discuss with our clients is really an acceleration in their expectation on digitisation and ESG.” At the end of the third quarter last year, SGSS reported a revenue increase of 6.9% to €155 million (£129 million) compared to the same period in 2020. The bank’s assets under custody in the third quarter stood at €4.475 trillion, compared to €4.328 trillion in the third quarter of 2020. SGSS’s assets under administration increased by 2.9% in the third quarter compared to the third quarter of 2020 to €680 billion. “We built our strategy roughly at the end of 2019 and we have not changed the views that we have on the market or on our objectives,” adds Abitbol. SGSS is also looking to serve the growing appetite for private markets in 2022, according to Abitbol. He states that, for private markets, the French banking giant is seeing a strong demand
Winter 2021/22
2021 was a very good year for Société Générale as a whole and SGSS specifically. Markets were very active, so we benefited, amongst others, from the volumes and market valuations.
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www.globalinvestorgroup.com
CUSTODY
DAVID ABITBOL, SOCIÉTÉ GÉNÉRALE
