SGSS appoints Head of Trustee and Depositary Services in the UK

Societe Generale Securities Services (SGSS) has appointed David Painter as Head of Trustee and Depositary Services in the UK. Based in London, he reports to Bertrand Blanchard, SGSS’ Country Manager in the UK, and to Michèle Besse, Global Head of Depositary Control.

This appointment is part of SGSS’ development strategy to provide clients with a complete and competitive securities services offering in the United Kingdom. David Painter will play a key role in launching and managing trustee and depositary services in the UK for a broad range of investment funds, including UCITS and alternative funds, and actively help develop a range of integrated client solutions. SGSS’ full range of trustee and depositary services will include asset safekeeping, cash monitoring and oversight duties. These services will contribute to the on-going implementation in the UK of outsourcing solutions to provide wealth fund managers and asset managers with the full post-trade value-chain from global execution to global custody, extending to full middle-office.

With the industry continuing to evolve in response to regulatory and structural changes and with asset safety and fund compliance at the forefront of investors’ concerns, choosing the right partner is essential. The combination of David Painter’s extensive experience in trustee and depositary services in the UK and SGSS’ global depositary network will provide its’ clients with strong asset protection and robust control processes, alongside the expertise and security of one of Europe’s leading depositary banks.

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David Painter began his career at Midland Bank Trust Company Ltd. in 1975 where he spent over ten years in various management and officer roles involving private client trusteeship and portfolio management. In 1987, he moved on to corporate trusteeship when he joined HSBC Securities

Services, ultimately as a Senior Trust Manager, before moving to Chase Manhattan Trustees Limited, a division of Chase Manhattan Global Securities, as Vice President, Trustee Manager in 1994.

Following the merger of Chase with J.P.Morgan, with his extensive experience in trustee and depositary oversight of collective investment schemes, David continued with the successor organization, J.P. Morgan Trustee & Depositary Company Ltd., where he was appointed Director of Trustee Client Relationships in 2001 followed by his appointment as Director of Business Development in 2010. During this period, he was a Board Director of the J.P.Morgan Trustee & Depositary Company Ltd. and latterly represented J.P.Morgan on the Executive Committee of the UK Depositary & Trustee Association (DATA), where he was elected Chairman in 2014.

David holds a Trustee Diploma from the Chartered Institute of Bankers, as well as diplomas in Effective Management and Marketing from Henley Management College.