HSBC Holdings plc (0005.HK)
- Zacks
HSBC to Streamline Operations in Germany Amid Asia Expansion
HSBC is considering restructuring its Germany-based business through the sale of fund administration unit INKA and custody business as well as wealth management operations.
- Reuters
ABN Amro nears deal to buy HSBC's German private bank, Boersenzeitung says
FRANKFURT (Reuters) -Dutch bank ABN Amro is seeking to further expand in Germany as it is nearing a deal to acquire HSBC's wealth management unit in the country, newspaper Boersenzeitung reported on Friday, without specifying its sources. A transaction would extend ABN Amro's foray into Germany, Europe's largest wealth management market, after it last month signed a deal to buy Fosun's private bank Hauck Aufhaeuser Lampe for 672 million euros ($730 million).
- Reuters
Bidders line up for HSBC's German fund administration and custody units, sources say
State Street, BNP Paribas and Caceis are lining up as potential bidders for the sale of HSBC Germany's fund administration unit INKA and custody business, three sources familiar with the matter told Reuters. The process is due to launch in the next couple of weeks, as soon as HSBC decides with its advisers whether to sell the assets together or separately, the sources said, speaking on condition of anonymity. HSBC is hoping the overall valuation for INKA and the custody unit could be more than 700 million euros ($751.17 million), the first person said.
