Reported 10 months ago
State Street, BNP Paribas, and Caceis are potential bidders for the sale of HSBC Germany's fund administration unit INKA and custody business. The process is set to begin soon, with HSBC considering whether to sell the assets together or separately for a valuation of over 700 million euros. Other possible bidders include Universal Investment and Montagu for INKA, while BNP Paribas and State Street are interested in HSBC's custody business. INKA, a major fund administrator, has around 400 billion euros of assets under administration and 22% market share, while Caceis, with a significant presence in Germany, is attracted to HSBC's custody business with over 4.7 trillion euros of assets under custody and 3.3 trillion euros of assets under administration.
Source: YAHOO