HSBC extends global custody coverage in Abu Dhabi
15 August 2022 UAE
![Generic business image for news article](https://www.assetservicingtimes.com/assetservicesnews/images/MondayAugust1520221660565844.jpg)
HSBC has been awarded an arranging custody licence in Abu Dhabi, enabling the company to extend its global securities services coverage for institutional clients in the UAE market.
This will enable the bank to expand its Markets and Services Services business in the Abu Dhabi Global Market, offering custody support and associated services for institutional and sovereign wealth clients.
Commenting on the development, Abdulfattah Sharaf, CEO of HSBC UAE and head of international business for HSBC Bank Middle East Ltd, says: “HSBC is investing in its wealth management capabilities across all customer segments, from sovereign and institutional clients, to family offices and ultra high net-worth individuals, through to investment managers and retail customers.
“Our new presence in ADGM complements HSBC’s existing securities services presence across the region and the world.”
Nabeel Abdul Rahim Albloushi, HSBC’s head of corporate sales for MENAT and head of markets and securities services in the UAE, adds: “Having world class global banking and markets capabilities in the UAE and the wider region is how we helped clients in the Middle East and North Africa to raise more than US$19 billion from investors worldwide in 2021 and more than US$15 billion in the first half of 2022, placing us on the top of Dealogic’s regional equity and debt rankings.
“The UAE’s position as a hub of financial market activity is clear from the past year’s boom in IPO listings across the country, so it is more important than ever for HSBC’s global custody business to be on the ground, connecting directly with customers in the nation’s capital.”
“This expansion responds clearly to the needs of our clients and further extends our ability to connect international investors, sovereign and institutional investment managers from Abu Dhabi to capital markets around the world.”
This will enable the bank to expand its Markets and Services Services business in the Abu Dhabi Global Market, offering custody support and associated services for institutional and sovereign wealth clients.
Commenting on the development, Abdulfattah Sharaf, CEO of HSBC UAE and head of international business for HSBC Bank Middle East Ltd, says: “HSBC is investing in its wealth management capabilities across all customer segments, from sovereign and institutional clients, to family offices and ultra high net-worth individuals, through to investment managers and retail customers.
“Our new presence in ADGM complements HSBC’s existing securities services presence across the region and the world.”
Nabeel Abdul Rahim Albloushi, HSBC’s head of corporate sales for MENAT and head of markets and securities services in the UAE, adds: “Having world class global banking and markets capabilities in the UAE and the wider region is how we helped clients in the Middle East and North Africa to raise more than US$19 billion from investors worldwide in 2021 and more than US$15 billion in the first half of 2022, placing us on the top of Dealogic’s regional equity and debt rankings.
“The UAE’s position as a hub of financial market activity is clear from the past year’s boom in IPO listings across the country, so it is more important than ever for HSBC’s global custody business to be on the ground, connecting directly with customers in the nation’s capital.”
“This expansion responds clearly to the needs of our clients and further extends our ability to connect international investors, sovereign and institutional investment managers from Abu Dhabi to capital markets around the world.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Assegt Servicing Times
![Advertisement](../images/bull-252524.png)