Strategy
South African Wealth Firm Hires SocGen To Provide Platform
The platform will provide front to back office solutions from dealing to custody, combined with client and advisor digital tools.
South Africa-based
Absa Wealth and Investment Management has appointed
Societe Generale Securities Services to provide Absa with a
fully integrated wealth management platform solution.
Absa provides a range of local and international investment
solutions including retail, business, corporate and investment
banking, wealth management products and services, it said in a
statement.
The SGSS platform is automated and provides a front to back
office solution from dealing to custody, combined with client and
advisor digital tools. SGSS will deliver the services centrally
from its UK office supported by its global network of centres of
excellence.
“Absa is a significant client for our business and we are pleased
that they have shown their trust and commitment to SGSS,” said
Bertrand Blanchard, country head for SGSS UK. “This deal also
demonstrates the ongoing investment and our long-term commitment
to the Securities Services business in the UK.”
Present in 27 locations worldwide with 4,000 employees, SGSS provides financial institutions and brokers, asset managers and insurers, and businesses with a full range of securities services adapted to the latest financial market and regulatory trends.
Absa Group Limited (previously Barclays Africa Group) is listed on the Johannesburg Stock Exchange. Absa Group offers as set of products in wealth and investment management. Absa Group has a presence in 12 countries in Africa, with approximately 42 000 employees. The group’s registered head office is in Johannesburg, South Africa, and it owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa (Absa Bank), Tanzania (Barclays Bank Tanzania and National Bank of Commerce), Uganda and Zambia. The Group also has representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa, Tanzania and Zambia.
