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    Home > Finance > UniCredit picks BNP Paribas for custody services replacing SGSS, CACEIS
    Finance

    UniCredit picks BNP Paribas for custody services replacing SGSS, CACEIS

    Published by Global Banking and Finance Review

    Posted on September 8, 2025

    1 min read

    Last updated: January 22, 2026

    UniCredit picks BNP Paribas for custody services replacing SGSS, CACEIS - Finance news and analysis from Global Banking & Finance Review
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    Tags:partnershipfinancial servicesInvestment management

    Quick Summary

    UniCredit partners with BNP Paribas for custody services, replacing SGSS and CACEIS, creating new roles in Germany and Italy.

    UniCredit Partners with BNP Paribas for Custody Services Transition

    ROME (Reuters) -Italian bank UniCredit said on Monday it would partner with French peer BNP Paribas for custody services, under an ongoing push to streamline its operations and partnerships.

    The move comes after the bank in January announced a decision to bring in-house its back-office activities for securities services, standardising suppliers across countries.

    UniCredit used to partner with Société Générale Securities Services (SGSS) in Italy and Crédit Agricole's CACEIS in Germany.

    "UniCredit has selected BNP Paribas' securities services business as its custody services partner for Italy and Germany, with additional support for Luxembourg," the Milan-based lender said in a statement.

    It also said it would rely on wealth management firm FNZ to build a cloud-based post-trade securities platform for its custody services business in Germany.

    The team managing this platform will be fully internal to UniCredit, creating around 140 new roles in Germany, where the service was previously outsourced, and another 60 in Italy.

    (Writing by Alvise Armellini: editing by Valentina Za)

    Key Takeaways

    • •UniCredit partners with BNP Paribas for custody services.
    • •Transition from SGSS and CACEIS to BNP Paribas.
    • •New cloud-based platform in Germany with FNZ.
    • •140 new roles in Germany, 60 in Italy.
    • •Focus on streamlining operations and partnerships.

    Frequently Asked Questions about UniCredit picks BNP Paribas for custody services replacing SGSS, CACEIS

    1Who is UniCredit partnering with for custody services?

    UniCredit has selected BNP Paribas' securities services business as its custody services partner for Italy and Germany.

    2What was UniCredit's previous arrangement for custody services?

    UniCredit previously partnered with Société Générale Securities Services (SGSS) in Italy and Crédit Agricole's CACEIS in Germany.

    3What new roles will be created as part of this transition?

    The transition will create around 140 new roles in Germany and another 60 in Italy, as the service was previously outsourced.

    4What technology will UniCredit use for its custody services?

    UniCredit will rely on wealth management firm FNZ to build a cloud-based post-trade securities platform for its custody services business in Germany.

    5What is the purpose of UniCredit's partnership with BNP Paribas?

    The partnership aims to streamline UniCredit's operations and standardize suppliers across countries.

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