Societe Generale and Amundi announce the signature of a new five-year partnership agreement under which they will continue to develop their relationship in the investment solution distribution and securities services activities. The agreement will take effect from November 2020.
Amundi, Europe’s leading asset manager, will continue to operate as Societe Generale group’s primary partner for the supply of savings and investment solutions for its retail banking and insurance networks, as part of an open architecture structure allowing access to other asset managers. Building on the relationship the two groups have developed over several years, Societe Generale will continue to be a leading supplier of securities services for Amundi.
“Managing their savings is a key concern of our clients and vital for the sustainable development of our economies. This partnership heralds a new stage in our strategy around the supply of investment solutions as we work to create open architecture solutions that our retail networks can offer our clients, while also allowing them access to best-in-class management expertise in France and internationally, and meet their growing demand for socially responsible investment. The provision of responsible and innovative financial solutions is central to our corporate purpose. Amundi, the leading asset manager in Europe, which Societe Generale helped to create, will be an essential partner of the value proposal we aim to establish for our clients. Moreover, we will continue to support Amundi in their international development through our comprehensive and flexible range of Securities Services solutions,” says Frédéric Oudéa, Chief Executive Officer of Societe Generale.
“We are delighted to renew our agreements with Societe Generale, which has been a partner of Amundi since its creation. Through this renewal of this partnership in its various components, we will be able to continue helping to develop Societe Generale's offering and services for its retail banking network clients. This renewal confirms Amundi's position as a reference partner of the retail banking networks in Europe,” says Yves Perrier, Chief Executive Officer of Amundi.
Societe Generale and Amundi signed their first commercial distribution agreements in 2009. These were renewed in 2015 during the IPO of Amundi, when Societe Generale sold all its shares in the group.