HSBC doubles down on the UAE on 80th anniversary
As HSBC marks 80 years of continuous operations in the UAE today, it has announced it will open its second wealth centre in the UAE, in Abu Dhabi, later this year. “Last year we opened the first wealth centre, the largest in the region, in Dubai, and later this year we will open another in Abu Dhabi,” Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, told Gulf News in an…
On the 80th anniversary of its continuous operations in the UAE, HSBC has announced plans to double down on the country's financial sector. The bank will open its second wealth centre in Abu Dhabi, following the launch of its first in Dubai last year. Mohamed Al Marzooqi, CEO of HSBC Bank Middle East, highlighted the UAE's growing importance as a hub for institutional capital and wealth creation, attributing the bank's strategic decision to the shift in how wealth is managed and reinvested in the region.
HSBC has witnessed a 54% year-on-year increase in assets under management in Abu Dhabi's asset management sector and reported strong growth in Premier customers despite geopolitical uncertainties. The bank's World Trader platform offers customers access to over 30 global markets and 80 exchanges, while its UAE presence, dating back to 1946, remains unyielding during periods of economic and geopolitical volatility.
Al Marzooqi emphasized HSBC's long-term commitment to the UAE, aligning its investment plans with the country's growth and vision. The bank expects further opportunities in infrastructure and resilience-related investments, as well as continued support for IPOs and bond transactions in the UAE.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
