Market leaders, trends and background information: These are the 10 largest depositories in Germany

According to BVI statistics, there were still 29 custodians operating in Germany in mid-2025 – but the next acquisition is almost a done deal, and the industry will continue to consolidate. The five largest providers already share almost two-thirds of the market. We present the 10 largest custodians.

Hauck Aufhäuser Lampe has once again made it into the top 10 German custodian banks. At the end of 2024, the bank held €86.9 billion in assets, making it the tenth-largest depository bank in Germany. In mid-2024, this figure had fallen to €85.9 billion. The bank describes itself as one of the fastest-growing custodian banks in Germany. Hauck Aufhäuser Lampe is represented in almost all segments listed by the BVI (German Investment Fund), except that it does not hold assets in closed-end securities or special investment funds. The contact person for the custodian bank is Marc Kriegsmann, who heads business development in Asset Servicing.

The depositary falls within the Asset Servicing business segment. In addition to its depositary services, Hauck Aufhäuser Lampe also operates as an asset management company. Overall, the bank offers the administration of investment products for independent asset managers, financial service providers, institutional investors, asset managers, and investment companies, with a focus on Germany, Luxembourg, Switzerland, Austria, and Ireland.

What exactly will happen next at Hauck Aufhäuser Lampe remains somewhat unclear. ABN Amro is buying a large portion of the business, including the Asset Servicing division . However, the deal does not include the Luxembourg and Irish subsidiaries of Asset Servicing, which will remain in the hands of the current owner, Fosun. Specifically, these are Hauck & Aufhäuser Fund Services and its subsidiaries Hauck & Aufhäuser Administration Services and HAL Fund Services Ireland.

The German Investment Fund Association (BVI) compiles its depositary statistics semi-annually. As of June 30, 2025, the remaining 29 depositary institutions examined managed a total of exactly €2,940.0 billion, compared to €2,834.9 billion in mid-2024.

The most recent acquisitions were Degussa Bank, which disappeared from the market after being taken over by Oldenburgische Landesbank . Meanwhile, Apobank sold its depository business to DZ Bank. Consolidation in the industry thus continues. This is also reflected in the figures from the BVI statistics: The five largest providers – BNP Paribas, State Street Bank International, DZ Bank, HSBC, and Dekabank – held €2,039.2 billion in assets, or 69 percent of total assets.

This is how the assets under custody developed