France's Société Générale has acquired the custody arm of the Italy's UniCredit Group for €548m ($690m).

The business acquired by SG includes custody, clearing and  settlement, depository bank, fund administration and transfer agency for clients in Italy, Luxemburg and Dublin.

Jason Corcoran

UniCredit

Société Générale

BNP Paribas

Mediobanca

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SG buys UniCredit's custody arm

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