BNP Paribas today announces that its Securities Services business, a leading global custodian with EUR 14.3 trillion in assets under custody1, has entered an agreement with HSBC for the acquisition of the custody and depositary bank business of HSBC Continental Europe S.A., Germany, subject to regulatory approvals.
The transaction will strengthen BNP Paribas’ position as a leading custodian and top depositary bank in Germany2, supporting its targeted growth strategy in the region, notably in the institutional funds and financial intermediaries segments. Through this acquisition, the Securities Services business, part of the broader BNP Paribas Corporate and Institutional Banking division, will also build out its client franchise by expanding its products and services for insurance companies in Germany.
The agreement provides for the seamless transfer of the services currently provided by HSBC Continental Europe S.A., Germany to BNP Paribas’ Securities Services business in Germany.
Patrick Colle, Head of Securities Services & Chairman of Financial Institutions Coverage, BNP Paribas, commented: “As we continue to strengthen our global-local, integrated bank model at the service of our institutional client franchise, this transaction underpins our strategic goal to expand our presence and capabilities in targeted markets, both in Europe and globally. The combination of our on-the-ground expertise in all major markets and our broadening offering enables us to build upon our leadership while reinforcing our role as a long-term trusted partner to our clients.”
Lutz Diederichs, CEO of BNP Paribas Germany, said: “With this acquisition, we are further expanding the strong position of the BNP Paribas Group in Germany as one of our core markets. It is part of our growth strategy, which also includes targeted acquisitions in selected areas. Our clients benefit from our broad range of services across twelve different business lines, which is unique in the German market and ranges from Global Markets, via Global Banking to Wealth Management.”
Thorsten Gommel, Regional Head of Germany, Austria, Netherlands & Nordics, Securities Services, BNP Paribas, stated: “Harnessing our strong business momentum in the German market, we have great ambitions in further growing our operations within the region, both in terms of footprint and product offering. This acquisition is the perfect opportunity to continue to scale up our expertise and innovation capacity to provide our clients with industry-leading services.”
As part of the agreement, the custody business staff employed at HSBC Continental Europe S.A., Germany will transfer to BNP Paribas’ Securities Services business in Germany. The implementation of the agreement is expected to commence in early 2026 through a phased client migration.
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[1] As of 31 March 2025. Source: BNP Paribas’ Securities Services website
[2] With over EUR 1,6 trillion in Assets under Custody and EUR 0.7 trillion in Assets under Depositary as of 31 March 2025
Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.
BNP Paribas’ Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates, and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide. As a pillar of BNP Paribas’ diversified banking model, Securities Services provides asset servicing solutions that are closely integrated with the first-class services of the Group’s other business lines, in particular those of Global Banking and Global Markets. As of 31 March 2025, Securities Services had EUR 14.3 trillion in assets under custody, EUR 2.7 trillion in assets under administration and 9,350 funds administered.
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