Paris, London, Munich, 28 July 2020
European Bank for Financial Services (ebase) chooses Societe Generale Securities Services (SGSS) in Germany and MFEX Mutual Fund Exchange AB for their brokerage, custody and trailer fee management services
Societe Generale Securities Services in Germany and MFEX Mutual Fund Exchange support the European Bank for Financial Services (ebase) in the areas of brokerage, custody and trailer fee management. SGSS, based in Frankfurt, and its partner MFEX provide services relating to trading, custody services and rebate collection for ebase. Under the mandate, MFEX and SGSS will provide services for several thousand funds and will process hundreds of thousands of fund trades each year.
Kai Friedrich, spokesman for the ebase management board, comments on the agreement:
“We at ebase, and indeed the FNZ Group as a whole, are continuously working on further developing our offering for partners and clients, so that, in Germany too, we may become the leading source of digital B2B investment solutions for financial service providers and their clients. We are pleased to have entered into a partnership with Societe Generale Securities Services and MFEX Mutual Funds Exchange, top performing companies with whom we can continue to grow in the coming years.”
Christian Wutz, Head of Coverage, Marketing and Solutions at SGSS in Germany, adds:
“We are pleased to have ebase as part of our global clients base. This partnership is a significant step for SGSS on the German market, as it reinforces our role as global custodian in Germany. Our innovative and comprehensive range of services will be a key asset for ebase to support its ambitions for profitable growth. Our approach with MFEX is in line with SGSS's platform strategy to integrate the services of various providers to offer our clients best of class modular solutions and products.”
Steffen Ahlers, CEO and Managing Director MFEX Asia, is pleased: “This is a promising start to a long and successful partnership with strong growth potential in Germany and beyond. We will support ebase with our B2B solutions which will lead to synergies in the B2B2C segment. For MFEX, a global fund platform with Swedish origins, partnerships with SGSS and ebase are embedded in MFEX’s growth strategy and it represents a continuous expansion of our product range that we offer in existing and new markets.”
Press contacts Societe Generale :
Paris : Tân Le Quang +33 1 57 29 50 28 email@example.com
Frankfurt : Elke Pawellek +49 (0) 69 7174 503 firstname.lastname@example.org
London : Carole Bishop +44 20 7762 5499 email@example.com
Press contact ebase :
Dr. Matthias Krautbauer +49 (0)89 / 45460 401 firstname.lastname@example.org
Press contact MFEX :
Finn Maguire email@example.com
As independent experts in global fund distribution, MFEX offers a complete solution for fund companies and distributors. With assets under administration of EUR 320 billion, MFEX is one of the leading B2B fund platforms. Over 350 institutional clients (including banks and insurance companies) use MFEX to access one of the world's largest range of funds with 80,000 funds from over 950 fund companies. MFEX offers complete transparency between distributors and fund companies.
The MFEX Group is headquartered in Stockholm and has offices in Paris, Luxembourg, London, Geneva, Kuala Lumpur, Milan, Madrid, Umea, Hong Kong and Singapore. The main supervisory authority is the Swedish Financial Supervisory Authority (Finansinspektionen).
MFEX was founded over 20 years ago and is now active in 52 countries on 5 continents with more than 300 employees. The company is divided into four main business areas:
Trading and custody,
Distribution agreement and rebate collection,
Data and fund information and
Due Diligence / AML & KYC (Global Fund Watch).
More information is available at www.mfex.com
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Committed to the positive transformations of the world’s societies and economies, Societe Generale and its teams seek to build, day after day, together with its clients, a better and sustainable future through responsible and innovative financial solutions.
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 138,000 members of staff in 62 countries and supports on a daily basis 29 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
French Retail Banking which encompasses the Societe Generale, Crédit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index.
Societe Generale Securities Services (SGSS)
Present in 26 locations worldwide, with 4,000 employees, SGSS provides financial institutions and brokers, asset managers and insurers, and businesses with a full range of securities services adapted to the latest financial market and regulatory trends: clearing services, custody and trustee services, retail custody services, liquidity management, fund administration and asset servicing, fund distribution and global issuer services.
SGSS is among the top 10 global custodians and the second largest European custodian, with EUR 4,110* billion of assets under custody. SGSS provides custody and trustee services for 3,217* funds and the valuation of 4,304* funds, representing assets under administration of EUR 579* billion. SGSS also ranks among the European leaders in stock option management.
For more information, you can follow us on twitter http://twitter.com/SG_SS or visit our website http://www.securities-services.societegenerale.com
*Figures at end of March 2020
The European Bank for Financial Services GmbH (ebase®) offers comprehensive services in the custody business, including financial portfolio management and deposit business. As one of the leading B2B direct banks in Germany, ebase manages customer assets of around EUR 34 billion. Financial sales organisations, insurance companies, banks, asset managers and other companies use ebase's client-capable solutions for their customers for custody and account management.