SGSS in Romania mandated by the European Bank for Reconstruction and Development
SGSS in Romania, located within BRD, the Societe Generale subsidiary, has been mandated by the European Bank for Reconstruction and Development (EBRD), the largest institutional investor in the country, to act as its custody bank in Romania.
Assets from EBRD are being progressively transferred to SGSS for custody and safekeeping, positioning SGSS as one of its main local partners. Under the terms of the mandate, SGSS will also provide other value-added custody services, such as settlement on the Romanian market for both stock exchange and OTC trading, support for major local IPOs and government securities in the primary market, corporate action services and custody related cash management.
Societe Generale has been providing securities services in Romania through BRD for over 13 years. This mandate reflects the Group’s long-standing commitment to the Romanian market and in particular illustrates SGSS’ proven expertise and capacity to provide world-class services to a client-base of financial institutions such as global custodians, investment banks, broker dealers, asset managers and pension funds. SGSS’ overall offering in Romania includes both local and global custody, clearing & settlement services across all asset classes, depositary bank and issuer services.
The EBRD is an international financial institution that supports projects in over 30 countries, from Eastern Europe to central Asia and the southern and eastern Mediterranean. Investing primarily in private sector clients whose needs cannot be fully met by the market, the Bank promotes entrepreneurship and fosters transition towards open and democratic market economies. Through its activity in Romania in the coming years, the EBRD will develop projects that will assist Romania in maintaining stability in the financial sector, to support further growth of Romanian enterprises and small and medium-sized enterprises (SMEs). The EBRD is owned by 64 countries and two intergovernmental institutions (the European Union and the European Investment Bank).