{
  "id": 15714816,
  "title": "UniCredit to buy back securities-services unit from Societe Generale, document shows",
  "url": "https://urgent.news/2026/10/20/unicredit-to-buy-back-securities-services-unit-from-societe-generale",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-20T06:49:20.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445096/unicredit-to-buy-back-securities-services-unit-from-societe-generale-document-shows"
  },
  "original_language": "en",
  "account": "Italy's second-largest bank, UniCredit, has reached an agreement to repurchase its securities-services business from French counterpart Societe Generale, according to a union document seen by Reuters. The unit, responsible for managing investors' securities and related administrative services, currently employs 54 individuals in Milan and Turin, although specific financial details of the agreement were not disclosed in the document. Societe Generale acquired UniCredit's securities services unit in 2006, establishing a long-term partnership to handle these services for the Italian bank. The supply contract with Societe Generale was last renewed in 2017 and was set to continue until 2026. UniCredit aims to bring more strategic activities in-house and considers this transaction part of that goal. By handling the securities internally, the bank believes it can reduce the reliance on external suppliers and optimize the use of its data. However, UniCredit and Societe Generale have not yet commented on the matter.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Handelsblatt",
        "title": "Major bank: UniCredit takes back securities business from Societe Generale",
        "url": "https://urgent.news/2026/10/20/gro-bank-unicredit-holt-wertpapier-geschaft-von-societe-generale",
        "published": "2026-10-20T08:05:25.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}