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UniCredit to buy back securities-services unit from Societe Generale, document shows
MILAN: Italy’s second-biggest bank, UniCredit, has signed an agreement to repurchase its securities-services business from French peer Societe Generale , according to a union document seen by Reuters on Monday. The unit, which looks after investors’ securities and handles related administrative services, has 54 staff in Milan and Turin, according to the document, which did not provide any financial details of the agreement. Societe Generale bought UniCredit’s securities services unit in 2006, striking a long-term partnership to handle those services for the Italian bank. The supply contract wa...
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