The bank announced on Friday that HSBC Continental Eurobe agreed to sell their business in German nursery to BNP Paribas, as part of a broader simplification strategy.
The deal, which is still subject to organizational approvals and anti -monopoly, as well as negotiations with the Business Council in Germany, will witness all nursery, assets and agents who transfer them to BNP Paribas.
HSBC said it is expected that the gradual transition is expected to start in early 2026.
The nursery unit that is stripped of local nursery services, clearing and deposit provides German institutional customers.
This step is said to be in line with the HSBC plan for its focus on the fields of strategic feature.
The bank said: “HSBC focuses on increasing its leadership and share in the market in the areas in which it has a clear competitive advantage, and where it has a greater opportunity to develop and support its customers.”
It was announced in October 2024, the HSBC strategy aims to unify operations and focus on its international network, especially in Asia and the Middle East, with the provision of nursery and funds in Europe through its strategic centers in London, Ireland and Luxembourg.
The transaction is expected to support HSBC ambition for the pioneering bank for companies and institutional clients in Germany and Europe.
HSBC added that its strategic review of the work of German fund management is still continuing.