Societe Generale and Crédit Mutuel Arkéa signed a Memorandum of Understanding for the divestment of the retail business of Societe Generale Securities Services

Crédit Mutuel Arkéa would complete this acquisition via ProCapital, its subsidiary specializing in Custody Account-Keeping and, more broadly, in white-label investment solutions, which offers stakeholders in the savings market the ability to outsource all or part of their securities activities within a secure and regulatory-compliantframework. Under this agreement, ProCapital would thus become the securities services provider for SG French Retail Network, BoursoBank and Societe Generale Private Banking in France.

Arnaud Jacquemin, Head of Societe Generale Securities Services (SGSS): “This proposed divestment is fully in line with our SGSS strategy, and we are convinced that Crédit Mutuel Arkéa will be the best shareholder to foster the development of this business. On par with our peers, SGSS is refocusing on wholesale clients: the Group’s ongoing investments in securities services will therefore be concentrated on these clients, enabling us to better support their development and maintain a high quality of service that makes SGSS a recognized player in this area.”

Frédéric Diverrez, Head of Technologies and services division, Member of the Executive Committee of Crédit Mutuel Arkéa: “This acquisition project is a structuring step in the implementation of our Faire 2030 strategic plan. It concretely illustrates our goal to open up our business model and our desire to accelerate significantly, by 2030, in the white-label banking services market. By strengthening our capacities in Retail Securities Custody Account-Keeping, we are consolidating recognised know-how and increasing volume in a business with high technological and regulatory intensity. This transaction would enable us to deploy our banking expertise more widely to support the development of our B2B partners and Group entities, offering them innovative, high‑performing and robust solutions. It is part of a broader trajectory aimed at making our specialised subsidiaries essential references in their markets. Our goal is clear: to sustainably strengthen Crédit Mutuel Arkéa’s position among the leaders in banking outsourcing, by combining innovation and operational excellence.”

This project will be subject to the applicable social/labor procedures and the approval of the competent authorities. The project is expected to be completed in 2028.

Press contacts:
Societe Generale: Benjamin Fayol _+33 1 42 13 08 11_ benjamin.fayol@socgen.com
Crédit Mutuel Arkéa: Solen Deltour _+33 6 30 80 38 78_ solen.deltour@arkea.com

Read the press release on societegenerale.com