Societe Generale Securities Services has struck an alliance deal with U.S. Bancorp Fund Services. The two businesses have established the Global Securities Services Alliance (GSSA), combining both banks' service capabilities to offer global administration, shareholder servicing, distribution support, capital introduction support, product development, securities lending, trustee services, credit facilities and middle office solutions. The model is expected to enable clients from each firm to tap into the other's distribution network and local servicing operations.Based in Wisconsin, U.S. Bancorp Fund Services has USD590bn of assets under custody and administration. In 2005 it bought Wachovia's trust and custody business.
