Societe General expands B'lore operations

Bangalore, Mar 14 (UNI) Bangalore-based SG Software Asia Pvt. Ltd. (SG Software), the global knowledge centre for the Societe Generale Group, today announced its name change to ''Societe Generale Global Solution Centre,'' reflecting its expanded service offerings and business lines.

Set up in Information Technology Park (ITPL) here in 2000, SG Software was primarily catering to the financial software, research and development and IT consulting, besides project management needs of the Societe Generale Corporate and Investment Banking Division.

The company was today providing service to all business lines in the Group, across geographies, including Corporate and Investment Banking, Asset Management, Private Banking and Specialised Financial Services such as Automotive Leasing.

The company also announced that it had expanded its service offerings to include Equity Research, Financial Performance Management, Accounting, Expense Processing, Invoice Management and Market Data services. Processes like Custodial Fees Management and Nostro Reconciliation were in the pipeline.

Societe Generale Global Solution Centre CEO and MD Ramesh Kumar said in the release that the name change was a reflection of the company's commitment to reach out to and provide end-to-end business solutions to the other Business Lines or Entities in the Societe Generale Group, which were not yet leveraging the potential of this unit in Bangalore.

Mr Francois Boucher, Chairman of Societe Generale Global Solution Centre and Global CIO of Societe Generale Corporate and Investment Banking said the new name was in alignment with SG's vision to have this unit as a strategic global centre of excellence for the Group.

With its increased portfolio of services, Societe Generale Global Solution Centre would save around 100 million Euros for the Group by 2008, he added.

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