SaaS company SimCorp has extended its partnership with Societe Generale Securities Services (SGSS) until 2028. The new contract includes additional front office and ESG functionalities for CrossWise, SGSS’ front-to-back integrated suite. CrossWise has been designed to replace legacy solutions for middle office over-the-counter trades and clearing. The suite is also designed to help clients to be compliant with new regulations, such as the Central Securities Depository Regulation. The news comes after Societe Generale appointed Jane Karczewski as UK head of asset manager and hedge fund sales at the end of last month, while SimCorp launched Cloud Data Warehouse, powered by Snowflake, for clients’ investment and analytics needs back in December 2021. David Abitbol, head of SGSS, comments: “As part of our ambition to further expand our buy-side services, we are very pleased to extend this partnership with SimCorp which is key in supporting our ongoing growth strategy. This will help us to accompany the market trend for middle office outsourcing and address new market challenges such as growing demand for ESG and alternative investments. Christian Kromann, CEO at SimCorp, says: “SGSS has partnered with SimCorp for over 15 years. This agreement is great testimony to the trusted relationship and the strategic alignment between the groups. With a strong commitment to innovate, SimCorp will continue to evolve its solutions and services to address the market requirements and enable our clients to focus on their core business.”
