HSBC Continental Europe has reached an agreement on the sale of its business in Germany to BNP Paribas SA, Niederlassung Deutschland.
This decision is part of the HSBC simplification strategy announced in October 2024. This includes the connection of European customers with opportunities on the HSBC international network. For mobile values, this means that we focus on the franchise that leads to the HSBC market in Asia and the Middle East and provides better custody and funding services to customers in the United Kingdom and Europe through HSBC strategic hubs in London, Ireland and Luxembourg.
The custody in Germany focuses on domestic guard, liquidation and repository for German institutional customers.
All of the staff employed by Germany’s HSBC Continental Europe SA, as well as its assets and customers, will be transferred to BNP Paribas as part of the possible transaction.
Completion of the possible transaction is subject to ordinary approvals of regulatory and antitrust amplifiers and the completion of negotiations with the project council in Germany.
Gradual transfer of staff and customers is expected since the beginning of 2026.
The analysis of the strategic options for the HSBC capital management operation is ongoing.