First Private Investment Management, a Frankfurt-based investment manager, has tapped Societe Generale Securities Services (SGSS) for front, middle and back-office services.
The German asset manager will leverage SGSS’ CrossWise solution, which was introduced earlier this year to optimise asset managers’ operating model by consolidating front to back solutions.
SGSS head of commercial, marketing and solutions in Germany Christian Wutz said: “The development and expansion of CrossWise, as an optimal STP solution, plays an integral part in accompanying First Private.”
At the same time, SGSS will offer First Private its extended analytics and reporting services such as performance measurement and risk analysis.
SGSS said that its selection by First Private was based on its ability to manage “sophisticated financial instruments” such as OTC and structured products, and its experience in migrations.
First Private COO and partner Thorsten Wegner said: “Working with Societe Generale Securities Services allows us to focus on our core competencies, the development and implementation of active, quantitative multi-asset and absolute return investment strategies.
“SGSS has a strong understanding of our complex business and values stable, automated processes as much as we do. We also look forward to the further opportunities that CrossWise offers, such as the multi asset dealing desk services.”