BNP Paribas has agreed to acquire HSBC Continental Europe’s custody and depositary bank business in Germany, a move to bolster its securities services footprint in the region.
The deal, announced on June 27, 2025, is subject to regulatory approval and will support BNP Paribas’ strategic ambition to grow its presence in key European markets, particularly among institutional fund managers, financial intermediaries and insurance firms.
The services currently provided by HSBC Continental Europe S.A., Germany will transition to BNP Paribas Securities Services. The integration process, including a phased migration of clients, is set to begin in early 2026. Staff from HSBC’s custody unit in Germany will also transfer to BNP Paribas as part of the agreement.
This acquisition is expected to elevate BNP Paribas Securities Services’ standing as a depositary bank in Germany, complementing its long-term growth trajectory in one of its core European markets.
“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,” said Patrick Colle, head of securities services and chairman of financial institutions coverage at BNP Paribas. “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, added: “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 for Securities Services at BNP Paribas, said: “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.”
