Société Générale builds funds services for Italian push

Société Générale has said it is targeting further acquisitions to add to its €579m ($735m) purchase of the securities services unit of investment bank UniCredit, as it looks to boost its capabilities in clearing and settlement and fund administration in Italy.

Italian banking group Unicredit yesterday sold 2S Banca, its securities services business, to Société Générale's custody and trustee services subsidiary.

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