SGSS appointed sub-custodian for Deutsche Bank AG in Egypt
SGSS has been appointed by Deutsche Bank AG to act as sub-custodian for its proprietary and client assets in Egypt.
Societe Generale Securities Services (SGSS) has been appointed by Deutsche Bank AG to act as sub-custodian for its proprietary and client assets in Egypt, following an extensive due diligence process. The migration of assets to SGSS was successfully completed on 11 September 2011.
The SGSS custody platform in Egypt will provide Deutsche Bank with a range of services centred on custody & settlement. The platform builds on Societe Generale Group's extensive experience in the country, where it has been providing custody services to domestic clients for more than 30 years through its subsidiary NSGB.
This mandate from another international client in Egypt is recognition of SGSS' expertise in the region and reflects its continued commitment to North Africa. SGSS is already a leading sub-custodian to international clients in Morocco.