Under the proposed deal, Crédit Mutuel Arkéa would acquire the business through ProCapital, its subsidiary specialising in custody account-keeping and white-label investment solutions.
Societe Generale has signed a memorandum of understanding with Crédit Mutuel Arkéa for the divestment of the retail custody account-keeping delegation activity of Societe Generale Securities Services (SGSS), a business dedicated to the French retail banking segment. Crédit Mutuel Arkéa would acquire the business through ProCapital The activity covers the management of securities transactions, interest and dividend payments and the holding of positions in ordinary