TechFlow news, June 29 — According to crowdfundinsider, BNP Paribas announced that its Securities Services business (with EUR 14.3 trillion in assets under custody globally) has reached an agreement with HSBC to acquire the German custody and depositary banking operations of HSBC Continental Europe S.A., subject to regulatory approval. This acquisition will strengthen BNP Paribas' position as a custody and depositary bank in Germany, supporting its growth strategy in the region targeting institutional funds and financial intermediaries.
BNP Paribas Securities Services, part of its Corporate and Institutional Banking division, will expand its client base through this acquisition, particularly in the area of products and services for German insurance companies. Employees from HSBC Continental Europe S.A.'s custody operations in Germany will transfer to BNP Paribas' German Securities Services team.
The agreement is expected to take effect at the beginning of 2026, with completion achieved through a phased customer migration process.
