HSBC Expands Wealth Management in UAE Amid Regional Tensions

HSBC plans to launch a new wealth management centre in Abu Dhabi, marking its continued expansion in the United Arab Emirates despite ongoing regional conflicts. The decision reflects the bank's confidence in maintaining demand for its wealth business in the Middle East.

Mohamed Al Marzooqi, HSBC's CEO in the UAE, stated that the new centre is part of the bank's largest investment in the Middle East in two decades. This follows the establishment of a wealth hub in Dubai last year, which marked HSBC's first regional wealth management centre.

HSBC's survey revealed that 97 per cent of global investors view the UAE as an appealing location for infrastructure projects. Al Marzooqi emphasized that the bank continues to experience strong growth in its high-net-worth customer base despite geopolitical uncertainties.