BNP Paribas Picks Up Hedge Fund Clients With HSBC Agreement [Yahoo! Finance]
ABSA GROUP LTD S/ADR (AGRPY)
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Source: Yahoo! Finance
Most Read from Bloomberg Citigroup Cuts Over 300 Senior Manager Roles in Latest Restructuring Nearly All of OpenAI Staff Threaten to Go to Microsoft If Board Doesn't Quit The Doomed Mission Behind Sam Altman's Shock Ouster From OpenAI Microsoft Ends Weekend of OpenAI Drama With Coup of Its Own OpenAI in ‘Intense Discussions' to Quell Potential Staff Mutiny BNP's securities services unit signed an exclusive agreement to take over HSBC's hedge funds administration business, according to a statement Tuesday. The agreement allows the 25 institutional clients affected by HSBC's decision to shut down the business to transfer their hedge fund administration requirements to BNP. “While HSBC's securities services business has taken the decision to exit hedge fund administration services, the alternatives sector continues to be a focus of growth for us, including private assets fund administration and prime services, both of which have seen a strong performance over the course of
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