BNP Paribas has entered into 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. 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.
