Loeb & Loeb LLP represented Société Générale in executing a Business Process Outsourcing (BPO) and technology services agreement with Broadridge Financial Solutions, Inc., for the outsourcing of North American securities processing systems and back office business processes for the global investment bank’s U.S. broker-dealer, SG Americas Securities, LLC.
Société Générale is leveraging this strategic partnership to support the growth of its U.S. market businesses. A key component of Société Générale’s U.S. growth plan was to build a fixed income business and become a Primary Dealer, which it became in February 2011. A critical part of this achievement was the firm’s implementation of impact℠, Broadridge’s fixed income trading platform.
“When we were looking for a partner, Broadridge came in, listened to our specific needs and crafted a custom technology solution along with staffing resources to support and enhance Société Générale’s back-office functions,” said Mark Kaplan, Chief Operating Officer for Société Générale Corporate & Investment Banking in the Americas. “Using Broadridge’s solutions not only enables us to redeploy our internal resources to new strategic growth areas, but we are now better equipped to grow and scale our business at predictable price points,” Kaplan concluded.
This July, Société Générale went live on BPS®, Broadridge’s back-office processing system, supporting real-time processing of its U.S. equities, options, and stock loan activities. This partnership will enhance Société Générale‘s global trading operations by streamlining processes, such as: trade initiation, confirmation, payments, corporate actions and statements between their domestic and international offices ensuring that all their regulatory reporting and other back-office requirements are met.
Loeb & Loeb partner Kenneth Adler represented Société Générale in this transaction.
Loeb & Loeb’s Outsourcing Group takes a results-driven approach to the strategic outsourcing of complex information technology and business process functions. With years of experience structuring a wide range of outsourcing transactions for clients in the U.S. and abroad, our attorneys add value and meet our clients' short-term objectives and long-term business goals through cutting-edge deals that encompass a wide variety of outsourcing services and solutions. Our legal services include matters relating to onshore, near-shore and offshore solutions; multi-sourced environments; renegotiation/exit strategies; dispute resolution; labor and employment; privacy and data security; compliance; intellectual property; and mergers, acquisitions and divestitures.