Norton Rose Fulbright advises HSBC Continental Europe on the sale of its custody business to BNP Paribas S.A.

Global law firm Norton Rose Fulbright has advised HSBC Continental Europe on the sale of its custody business in Germany to BNP Paribas S.A., Germany branch.

The custody business in Germany focuses on domestic custody, clearing, and safekeeping services for German institutional clients.

This transaction forms part of HSBC’s global simplification strategy announced in October 2024. 

The cross-border team was led by London partner Emma de Ronde (Corporate/M&A) and Düsseldorf partner Anne Fischer (Corporate/M&A). It also included partners Claudia Posluschny (Employment, Munich), Tim Schaper (Antitrust, Hamburg), Christoph Ritzer (Data Protection, Frankfurt), Frank Henkel (Corporate/M&A) and Frank Herring (Banking, Frankfurt), as well as senior associates Veronika Koch (Corporate/M&A, Düsseldorf), Alexander Mathes (Corporate/M&A, Munich), Michaela Bachmeier (Employment, Munich) and Tobias Teichner (Antitrust, Hamburg), associates Nicolas Krämer (both Corporate/M&A, Düsseldorf) and Eleanor Jones (Corporate/M&A, London), and Michael Bolawole (Project Management, London).

Emma de Ronde commented:

"We are delighted to have assisted HSBC on this transaction and to support HSBC in delivering its simplification strategy"

The transaction is subject to regulatory approvals.