By Sophie Baker
Societe Generale Securities Services (SGSS) will provide fund administration services to Credit Suisse (Deutschland) AG, following the signing of a partnership.
The outsourcing decision will see SGSS provide a range of administrative and technological solutions to Credit Suisse (Deutschland) AG, including front-office services and reporting services. The model will allow Credit Suisse to implement a more flexible organisation to meet the requirements of an increasingly complex and continuously changing market and regulatory environment.
SGSS will acquire the legal structure of Credit Suisse’s Asset Management Kapitalanlagegesellschaft mbH and will incorporate it into its existing local structure, SGSS Deutschland KAG mbH.
“With this new partnership, Credit Suisse is prepared for the increased specialisation in the Asset Management market and business,” said Henning Busch, head of asset management at Credit Suisse in Germany. “This is in line with our strategy in Germany and throughout Credit Suisse Asset Management to focus on our core strengths, which are Client Services and Portfolio Management – with Alternative Investments, Multi Asset Class Solutions and Passive Investment Strategies.”
Global head of SGSS, Alain Closier, added: “We are proud to welcome on board to our Master-KAG-platform a new, prestigious client. We are foremost pleased that the quality of our services and our client oriented approach has met the demand of Credit Suisse Asset Management’s local needs.”