SG GSSI will group together:
- the activities carried out by Fimat, the Group's broker specialized in listed derivatives;
- investor services for corporates, asset managers, investment banks, brokers and individual customers;
- securities and employee savings services for businesses.
SG GSSI employs 3,800 people in 18 countries in Europe, the United States and Asia.
Its client/product-oriented structure is centered around five businesses, namely Brokers, Investor Services, Services for Investment Banks, Services for Retail Networks and Corporate Services.
Alain Closier, former Global Head of Banking Services, has been appointed Head of SG GSSI. He said, "with SG GSSI, SociÃ©tÃ© GÃ©nÃ©rale has service capabilities covering all the asset classes in which our clients invest, confirming its commitment to supporting their growth in the increasingly global financial markets."
SG GSSI is attached to GIMS (Global Investment Management and Services), which regroups SG Asset Management, SG Private Banking and the newly-created SG GSSI. GIMS employs 7,600 people.
SociÃ©tÃ© GÃ©nÃ©rale benefits from an international presence in these three expanding businesses:
- SG Asset Management ranks number four among eurozone banks by assets under management (EUR 237 billion in Sept. 2003);
- SG Private Banking is the market leader in France (source: Euromoney survey - January 2004) and has a strong presence in Europe and Asia, where it ranks among the top ten players ;
- SG GSSI is number three in Europe by assets in custody (more than USD 1,200 billion at Sept. 2003) and one of the world's leading brokers on listed derivatives via its subsidiary Fimat.
Philippe Collas, Chief Executive Officer, Global Investment Management and Services, said, "the creation of this division reflects SociÃ©tÃ© GÃ©nÃ©rale's ambition in these businesses and ensures the resources for sustained profitable growth. Investors, who represent SociÃ©tÃ© GÃ©nÃ©rale's strategic client targets, increasingly require the competitive integrated offer provided by GIMS".
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