BNP Paribas’ Securities Services business has signed an exclusive agreement to integrate HSBC’s hedge fund administration business.
The strategic move aims to strengthen BNP Paribas’ position as an asset servicer for liquid alternatives and hedge fund managers.
The agreement encompasses the transfer of HSBC’s hedge fund administration operations to BNP Paribas’ entities in several key markets, including Hong Kong SAR, Singapore, Ireland and Luxembourg.
The transition will extend services to 25 global clients and involve the integration of certain HSBC employees into BNP Paribas’ expert teams.
This transfer aligns with BNP Paribas’ integrated bank strategy, which offers clients a suite of liquid alternative and hedge fund outsourcing solutions.
These include core fund administration, depositary, custody, cash, FX, financing, global markets and prime brokerage solutions.
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