Societe Generale becomes custodian bank for EBRD in Romania

Newsroom 16/01/2014 | 09:47

Societe Generale Securities Services (SGSS), operating within BRD, has been mandated by the European Bank for Reconstruction and Development (EBRD) as custodian bank in Romania.

SGSS will settle OTC and stock exchange trades on the local markets, provide support for local IPOs and sovereign bond issues, and manage treasury operations, as part of the contract. In addition, EBRD’s assets will gradually be transferred in the custody of SGSS.

Societe Generale has been providing custodian services through its local subsidiary BRD for the past 13 years.

The EBRD has invested around EUR 6.4 billion across over 330 projects in Romania, mobilizing another EUR 12 billion in these ventures from other sources.

Ovidiu Posirca


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