HSBC has opened its first wealth centre for high-net-worth clients in the UAE.
Situated in the flagship Jumeirah branch in Dubai, the wealth centre has been opened to provide premier clients with a private environment to conduct meetings and access bespoke solutions.
The centre also features an event space that will be used for functions such as educational sessions, seminars and networking events.
The launch of the centre is part of the bank’s strategy to grow its international wealth and premier banking (IWPB) segment and is borne out of its enhanced focus on Asia and the Middle East.
Mohamed Al Marzooqi, chief executive, UAE, HSBC Bank Middle East, noted the UAE attracts more net inflows of millionaires than any other country in the world.
“Initiatives such as long-term residency allow them to put down roots with their families, expanding a client base whose needs in wealth management and cross-border banking align directly with HSBC’s expertise and international network,” he said.
“We’re also seeing a clear shift in the profile of affluent customers: younger, more diverse, and more digitally minded. They’re interested in new economy sectors, technology, and asset classes such as tokenised gold.
“HSBC is moving fast to meet that demand with innovative solutions that help them grow and protect their wealth with confidence.”
HSBC has announced the creation of dedicated wealth centres across the network in China, Hong Kong, Taiwan, the UK, Malaysia and Mexico over the course of the past year to facilitate global connectivity.
Dinesh Sharma, head of international wealth and premier banking (IWPB), Middle East, North Africa and Türkiye, said: “To cater to a growing segment of internationally minded affluent customers, we are making our biggest investment in our IWPB business in the last two decades, strengthening our business for the future.
“We are investing in infrastructure, people and products, and our new wealth centre represents the first in a series of enhancements we are making to establish the UAE as a key wealth hub in our network.”
HSBC said it is planning to expand the wealth centre network to further facilitate seamless cross-border investing and wealth planning for customers.
