HSBC Opens Middle East Wealth Center, Expands Global Banking Services

HSBC has launched its first wealth center in the Middle East, located in Dubai's flagship Jumeirah branch, targeting high-net-worth clients with private meeting spaces and bespoke solutions to support cross-border investing. This initiative is part of HSBC's broader strategy to expand its international wealth and premier banking (IWPB) segment, with similar wealth centers recently opened in China, Hong Kong, Taiwan, the UK, Malaysia, and Mexico. The bank is responding to a shift in affluent customers who are younger, more diverse, and digitally savvy, with interests in emerging sectors and novel asset classes like tokenised gold. Additionally, HSBC Bangladesh has established a seventh business development office at the National Special Economic Zone in Mirsarai to support local and foreign investors with modern banking and financial services, reinforcing the bank's commitment to facilitating trade and investment in Bangladesh. These moves reflect HSBC's global strategy of investing in infrastructure, people, and products to strengthen its wealth management and trade finance capabilities across key international markets. Meanwhile, the World Bank has opened a new regional hub in Riyadh to enhance its presence and operational impact in the Middle East, North Africa, Afghanistan, and Pakistan, emphasizing Riyadh's role as a center for development knowledge and policy innovation.