Societe Generale secured the mandate following a public tender. CNAVPL represents 10 pension funds and manages the basic pension plans of self-employed professional members.
“This mandate illustrates Societe Generale's capacity to provide a quality institutional offering on a competitive cost basis,” the French bank said in a statement. “With a strong foothold in the sector, this offering meets both the client’s operational needs and requirements in terms of asset safety.”
Societe Generale had €3.98 trillion of assets under custody at the end of March, as well as assets under administration of €627 billion.