165 HSBC has garnered early interest from potential buyers such as BNP Paribas and UBS Group for its German wealth management unit, according to Bloomberg News sources familiar with the matter. The unit, previously known as Trinkaus & Burkhardt, could fetch between 300 million euros to 600 million euros ($324.4 million-$648.7 million) in a sale. Julius Baer is also listed among the contenders eyeing the wealth management business, Bloomberg reported. Meanwhile, Dutch bank ABN Amro is reportedly nearing a deal for the same unit, as indicated by a separate report in German newspaper Boersenzeitung. In addition to the wealth management unit, HSBC is collaborating with Bank of America on the potential sale of INKA, its German fund administration business. Reuters previously noted that the bidding process for INKA was set to commence soon, with Universal Investment, owned by private equity firm Montagu, emerging as a potential bidder. At the end of 2023, INKA managed approximately 400 billion euros in assets under administration, solidifying its position as one of the largest fund administrators in the industry. An HSBC spokesperson responded to Reuters via email, stating, “We are reviewing our strategic options with respect to our private banking business in Germany. But no decision has been made yet.” You Might Be Interested In TIAA and Nuveen Lifetime Income Default Target-Date Offerings Reach Nearly $35 Billion in AUM Japan Launches World’s First Sovereign Climate Transition Bonds Insurance CIOs Embrace Non-Traditional Assets, Says KKR’s Henry McVey Genuine Parts Company Appoints James F. Howe as President of Motion Pfizer’s ABRYSVO Shows Promise in Phase 3 Study for RSV Prevention Union Standard Insurance Group Rebrands as Berkley Southwest