Grindrod Asset Management has entered an agreement with Societe Generale Securities Services (SGSS), Asset Servicing Times reports. SGSS has been hired by the asset management division of South Africa’s Grindrod Bank to offer custody and trustee services for its Collective Investment Scheme.
With the latest deal, SGSS has become the first foreign bank to serve as a trustee for collective investment schemes. SGSS now provides both local and global custody, clearing and settlement services across all asset classes, as well as securities lending and treasury solutions.
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