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Funds Europe Awards: European Personality of the Year
IN AWARDING SERGE KRANCENBLUM the Personality of the Year trophy, the judges have recognised someone who has helped to create a new player in the asset servicing market.
From its formation 20 years ago in Luxembourg, SGG has grown to become a prominent voice in the specialist end of the market, offering services in private markets, special fund structures and advice. Krancenblum has been the key figure in this development and has helped to build a business with a global footprint and complementary skills base.
As well as consolidation among its players, the asset servicing world has had to deal with the convergence not just between the long-only and alternatives world but also within the alternatives market itself, as hybrid structures develop between the hedge fund, private equity and real estate markets.
The growing institutional influence in the alternatives market and the reporting requirements combined with firms’ need for more global reach and diversification has also raised the pressure on asset servicers and their offerings.
Consequently SGG, which describes itself as a specialist in the alternatives world, has sought to provide more transparency as well as expand its own geographic footprint.
Today SGG administers more than 320 funds in 22 countries with €270 billion of assets. Krancenblum has overseen a number of key acquisitions including two Jersey-based private equity administrators, First Names Group and Augentius, as well as lyer Practice and Cim Global Business.
The judges recognised not just Krancenblum’s purchasing strategy but the implementation and execution of his acquisitions.
He has also helped SGG pursue a path of innovation, offering administrative services to fintech start-ups as well as making its own investments in the space, firstly with its purchase of UK- based regtech firm Lawson Conner and secondly with its help in launching a $100 million (88 million) Fintech Fund managed by Israeli firm Viola.
Another of Krancenblum’s achievements has been his promotion of sustainability. He has launched a number of initiatives within the company including the use of recycling, CSR projects, pledges to reduce the company’s carbon footprint and a pledge across the group to donate a percentage of salaries to charitable causes.
In addition, he has launched an annual conference, the SGG Crossroads, which at this year’s event in Luxembourg explored the question: ‘Can the finance industry contribute to a better society?” The event featured speakers such as Gina Miller and Nev Hyman.
First published in Funds Europe.