Trusts and the future protective role of Komercni Banka depositary and trustee services


Societe Generale, through its subsidiary in the Czech Republic Komercni Banka (KB) is anticipating the monumental succession planning needs of a third of Czech companies who are expected to change ownership in the coming years*. Based on the new law in the Czech Civil Code, KB Private Banking proposes since 2022 a new ‘Trust’ structure in its range of services.

Although KB offers introductory assistance for planning trust structures, clients increasingly inquire whether KB could play a more active role and offer another layer of control, to monitor the defined financial activities for families/beneficiaries.

Therefore, SGSS KB plans to bring unique value trustee services that would be based on safekeeping and control functions. The benefits of the new SGSS services for clients will be a peace of mind for the Founder in case of future trustee changes. The SGSS key considered services proposed are:

  • Protecting specific changes in family assets (based on Family Council decisions):

    1. Controlling specific transactions in the stakes (ownership) of the client´s companies (sale, transfer)

    2. Monitoring that the assets settled are not transferred out of KB

    3. Ensuring that the portfolio(s) stay in the family.

  • Day-to-day monitoring: Online approval limits with a KB depositary validation (based on the thresholds defined by the Family Council)

  • Set of reporting  to families

The introduction of this SGSS service is planned for 2023. Our Relationship Manager in KB, Nasko Spirov, is at your disposal to present this new service. Don’t hesitate to contact us.

Discover KB’s depositary services.

Also discover Societe Generale Securities Services’ Fund services.

Michal Jezior, Country Head, SGSS Czech Republic

*Internal SG source