UniCredit agrees to take back its securities-services arm from Societe Generale
UniCredit has agreed to repurchase its securities-services unit from Societe Generale, according to a union document reported by Reuters on Monday.
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what happened
Italy's UniCredit has signed a deal to take back its securities-services business from France's Societe Generale, Reuters reported, citing a union document it reviewed on Monday.
The document says the unit employs 54 people in Milan and Turin and gives no financial terms for the agreement. Societe Generale acquired the unit from UniCredit in 2006 and has since provided those services under a long-term partnership. The supply contract was last renewed in 2017 and ran until 2026.
why it matters
According to the document, UniCredit wants to bring strategically important activities back in-house, and this transaction is part of that push. Handling securities internally should reduce reliance on an outside supplier and make better use of the business's data. The deal is small for markets, but it shows how large banks are rethinking outsourcing.
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sources
- UniCredit to buy back securities-services unit from Societe Generale, document shows — Reuters, 19 October 2026 at 21:53 UTC
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