HSBC to Streamline Operations in Germany Amid Asia Expansion

HSBC Holdings (HSBC) is actively restructuring its operations in Germany to focus more on its growth strategy in Asia. The bank has put its Germany-based fund administration unit INKA and custody business up for sale, attracting interest from several major financial institutions. INKA, a significant player in the industry with around €400 billion in assets under administration and a 22% market share, is a lucrative target. Universal Investment, backed by Montagu Private Equity, might also bid for INKA. Mean ...