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07/06/2012

Societe Generale Securities Services/ U.S. Bancorp enter new phase

The GSSA combines both companies’ service models for investment managers seeking a single source for servicing global products.

Global Securities Services AllianceThe relationship between Societe Generale Securities Services (SGSS) and U.S. Bancorp Fund Services, LLC (USBFS) has entered a new phase. Intrepid Capital Management, of Jacksonville Beach, Florida, took advantage of the Global Securities Services Alliance TM (GSSA) agreed between the two institutions in June 2010 to launch an Irish UCITS U.S. small companies fund in early April this year.

“We’ve done a number of smaller deals, but this is the fi rst fund using our model from start to fi nish,” says Walter Koller, who heads North American Business Development for SGSS. “SGSS in Ireland was very instrumental in the launch and will continue to work closely with USBFS on a day-to-day basis.”

The GSSA combines both companies’ service models to offer global administration, shareholder servicing, distribution support, product development, securities lending, trustee services, and middle offi ce solutions. Investment managers seeking a single source for servicing global products are able to receive 24-hour global support.

The goal was to leverage each organisation’s geographical and product expertise to provide comprehensive fund services for all U.S.- and European-domiciled funds with complete securities services and broader global support. Each of the two brings signifi cant industry tenure and best-in-class reputations within their respective local markets.

“Our innovative alliance with SGSS delivers specialized expertise for clients looking to expand their product offerings on a global scale,” said Christine Waldron, senior vice president of alternative investments for U.S. Bancorp Fund Services. “Our organizations continue to leverage industryleading solutions to provide comprehensive support, insights and guidance to solve the challenges of our clients.” The European expertise and presence of SGSS, both in their product offerings and in the countries where they are distributed, will provide U.S. Bancorp clients with strong regulatory support, distribution services, and global access to investor market trends across Europe.

U.S. Bancorp is the parent company of U.S. Bank, the fi fth-largest commercial bank in the United States. Since 1969, U.S. Bancorp Fund Services has supported investment managers, banks, and broker-dealer fi rms sponsoring mutual funds. Established exclusively to serve the unique needs of registered and unregistered products, it is headquartered in Milwaukee, Wisconsin.

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