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Direct Investment  + Alternative Assets  + Hedge Funds  + M&As  | 
BNP Paribas Acquires HSBC Hedge Fund Admin Business

BNP Paribas Acquires HSBC Hedge Fund Admin Business

BNP Paribas has agreed to acquire HSBC’s hedge fund administration division, bolstering the French banking group’s asset servicing for liquid alternatives and hedge fund managers.

The agreement includes HSBC’s hedge fund administration activities in Hong Kong, Singapore, Ireland, and Luxembourg. The services will be transferred to 25 clients worldwide, and selected staff will be integrated into BNP Paribas’ teams.

Clients of BNP can anticipate a broad range of front-to-back liquid alternative and hedge fund outsourcing solutions, including core fund administration, depositary, custody, cash, FX, financing, global markets, and prime brokerage.

“The liquid alternatives and hedge funds sector are a focus area for BNP Paribas. We have steadily invested in this field, with a strong emphasis on our integrated and innovative banking solution range across BNP Paribas’ Securities Services and Global Markets business lines,” said Philippe Benoit, head of strategic business development and transformation at BNP Paribas Securities Services.

The deal is expected to be completed by the end of 2024.

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BNP Paribas HSBC

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.