=HYPERLINK(A1,MID(LEFT(A1,FIND(".",A1)-1),MAX(ROW(INDIRECT("1:"&LEN(A1)
))*(MID(A1,ROW(INDIRECT("1:"&LEN(A1))),1)="\"))+1, 255))

entered as an array formula with Ctrl+Shift+Enter.
It assumes there will be at least one "\" in the file name and a . in
only the file name part.

Bill Manville
MVP - Microsoft Excel, Oxford, England
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