BNP Paribas has agreed to acquire HSBC Continental Europe's custody and depositary bank business in Germany, adding another institutional asset-servicing operation to its Securities Services division. The agreement was announced on 27 June 2025 and is subject to regulatory approvals, with client migration expected to start in early 2026. Financial terms of the deal were not disclosed by either party.
The acquisition will transfer HSBC's German custody and depositary operations — which provide safekeeping, settlement, and related services to institutional clients — to BNP Paribas' Securities Services business.
CLIENT TRANSITION AND HSBC DISPOSALS
Institutional clients served by the German custody platform are expected to transition to BNP Paribas's infrastructure as part of the handover process.
HSBC Continental Europe has sold several businesses in recent years, including its French retail banking operation.
STAFF TRANSFER
Under the agreement, the custody business staff of HSBC Continental Europe S.A., Germany will transfer to BNP Paribas, and clients will be migrated in phases starting in early 2026.