Societe Generale Reshapes Securities Strategy with Planned Transfer of Retail Custody Operations to Crédit Mutuel Arkéa

Societe Generale Reshapes Securities Strategy with Planned Transfer of Retail Custody Operations to Crédit Mutuel Arkéa

(IN BRIEF) Societe Generale and Crédit Mutuel Arkéa have agreed on a plan to transfer retail-focused custody account-keeping activities in France, with Arkéa set to take over the business through its subsidiary ProCapital. The move allows Societe Generale Securities Services to sharpen its focus on wholesale clients, while Crédit Mutuel Arkéa expands its capabilities in white-label banking and outsourced securities services. Covering transaction processing, asset administration, and investment account management, the deal reflects broader industry trends toward specialisation and operational outsourcing. Pending regulatory and social approvals, the transaction is expected to close in 2028 and marks a strategic shift for both groups as they strengthen their positions in their respective core markets.

(PRESS RELEASE) PARIS, 17-Mar-2026 — /EuropaWire/ — Societe Generale has taken a strategic step to streamline its securities services business by signing a Memorandum of Understanding with Crédit Mutuel Arkéa for the planned transfer of part of its retail custody operations in France. The transaction focuses on activities currently handled by Societe Generale Securities Services that relate to custody account-keeping for retail clients.

These services include the administration of securities transactions, the processing of income such as dividends and interest, and the management of holdings within investment products like Ordinary Securities Accounts and Equity Savings Plans. The move reflects a broader repositioning of Societe Generale’s securities services arm toward more institutional and wholesale-focused activities.

Crédit Mutuel Arkéa intends to execute the acquisition through ProCapital, its specialist subsidiary dedicated to custody services and white-label investment solutions. Following completion, ProCapital is expected to assume responsibility for delivering these services to several Societe Generale entities in France, including its retail banking network, BoursoBank, and private banking operations.

The transaction is aligned with Societe Generale Securities Services’ ongoing strategy to concentrate resources and investments on large-scale clients. By narrowing its focus, the business aims to reinforce its capabilities and maintain strong service quality in segments where it sees the greatest long-term growth potential.

At the same time, the deal represents a significant expansion opportunity for Crédit Mutuel Arkéa. The group is seeking to strengthen its presence in outsourced banking services, particularly in the white-label segment, where financial institutions rely on external partners to manage operational processes. By integrating these activities, Arkéa aims to scale its technological expertise and operational capacity in a complex and highly regulated environment.

Frédéric Diverrez highlighted that the project supports the group’s long-term ambitions under its Faire 2030 roadmap, which prioritises growth in B2B financial services and the development of specialised subsidiaries. The acquisition is expected to enhance Arkéa’s ability to deliver robust, scalable solutions to both internal entities and external partners.

The proposed transaction remains subject to employee consultation processes and approval from relevant regulatory authorities. If completed as planned, the transfer is expected to be finalised in 2028.

Press contacts: 
Societe Generale: Benjamin Fayol _+33 1 42 13 08 11_ benjamin.fayol@socgen.com  
Crédit Mutuel Arkéa: Solen Deltour _+33 6 30 80 38 78_ solen.deltour@arkea.com

About Societe Generale
Societe Generale is a top-tier European Bank with around 110,000 employees serving 27 million clients in 58 countries across the world. We have been supporting the development of our economies for over 160 years, providing our corporate, institutional, and individual clients with a wide array of value-added advisory and financial solutions. Our long-lasting and trusted relationships with the clients, our cutting-edge expertise, our unique innovation, our ESG capabilities and leading franchises are part of our DNA and serve our most essential objective – to deliver sustainable value creation for all our stakeholders.

The Group runs three complementary sets of businesses, embedding ESG offerings for all its clients:

• French Retail, Private Banking and Insurance, with leading retail bank SG and insurance franchise, premium private banking services, and the leading digital bank BoursoBank.
• Global Banking and Investor Solutions, a top tier wholesale bank offering tailored-made solutions with distinctive global leadership in equity derivatives, structured finance and ESG.
• Mobility, International Retail Banking and Financial Services, comprising well-established universal banks (in Czech Republic, Romania and several African countries), Ayvens (the new ALD I LeasePlan brand), a global player in sustainable mobility, as well as specialized financing activities.

Committed to building together with its clients a better and sustainable future, Societe Generale aims to be a leading partner in the environmental transition and sustainability overall. The Group is included in the principal socially responsible investment indices: DJSI (Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion
Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).

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About Crédit Mutuel Arkéa
A cooperative and mutualist bancassurance group, Crédit Mutuel Arkéa comprises the Crédit Mutuel de Bretagne and Crédit Mutuel du Sud-Ouest federations, their affiliated local branches, and around forty specialised subsidiaries (Fortuneo, Monext, Arkéa Banque Entreprises et Institutionnels, Arkéa Asset Management, Arkéa Capital, Suravenir, Suravenir Assurances, etc.). The Group has 11,660 employees, 2,500 directors, more than 5.6 million members and customers, and total assets of €211.6bn. Leveraging the diversity of its expertise and the distinctiveness of its business model, Crédit Mutuel Arkéa is committed to supporting environmental and societal transitions, consistent with its mission-led status. As a leading financial partner in Brittany and the South-West of France, the Group is accelerating its development and transformation under the Faire 2030 strategic plan, driven by a bold strategy supported by a collective of committed employees and members around a shared
promise: “With you, with all our strength”.

Follow Crédit Mutuel Arkéa news on social media cm-arkea.com

SOURCE: Societe Generale