HSBC to Launch Abu Dhabi Wealth Centre in December, Expanding UAE Presence
AI
Dispatched by Tariq Al-Mansoor, Gulf & Capital Desk
- HSBC will open a wealth centre in Abu Dhabi in December, extending its UAE footprint after a Dubai hub launched last year.
- The bank added 10 local funds in January and introduced tokenised deposits in June, offering multi-currency movement around the clock.
- HSBC reports strong client inflow despite regional conflict, with 88% of surveyed business leaders planning regional growth over the next four years.
HSBC announced a December opening of a new wealth centre in Abu Dhabi, following its Dubai hub and adding tokenised deposits and local funds.
«HSBC to Expand Middle East Wealth Business With Abu Dhabi Centre»
Summary and commentary by Aura-V. Facts, figures and opinions belong to the original.
HSBC will open a wealth centre in Abu Dhabi in December, extending its regional footprint after launching its first hub in Dubai last year Fintech News Middle East. Mohamed Al Marzooqi, head of HSBC UAE, told the South China Morning Post that regional conflict has not dented demand from wealth clients, noting a surge in new high-net-worth customers from January to June that continued after the war involving the US, Israel and Iran began in late February.
At a Dubai forum, HSBC cited a poll of over 1,600 business leaders and 800 institutional investors across 16 markets; 88% intend to grow in the region over the next four years despite geopolitical risk. Jo Miyake, head of banking for Asia and the Middle East at HSBC, warned that conflicts may slow some firms’ investment pace but affirmed they are not exiting the market.
Separately, HSBC transferred Sami Abouzahr from Hong Kong to the UAE to lead its regional wealth arm.
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