Both BNP Paribas and HSBC have declined to comment on the specifics of the transaction. Clifford Chance LLP, led by regional practice head Thomas Krececk, is advising BNP Paribas on the deal. Counsel for HSBC has not been made publicly available.
BNP Paribas’ Broader Investment Strategy
In addition to expanding its wealth management operations in Germany, BNP Paribas recently announced plans to invest $5 billion in a partnership with private equity firm Apollo. This collaboration aims to support investment-grade, asset-backed credit through Apollo’s Atlas SP Partners platform, further strengthening BNP Paribas’ capital markets and securitization capabilities.
As the deal progresses, BNP Paribas’ acquisition of HSBC’s German private banking unit will likely mark a significant step toward its goal of becoming a dominant force in Europe’s wealth management landscape.
