HSBC expands global securities services in ADGM

Providing institutional clients with global custody services, the expansion connects customers to a custodian network in 96 markets around the world and provides a leading digital platform for securi-ties services activities

Abdulfattah Sharaf, CEO of HSBC UAE and head of Inter-national, HSBC Bank Middle East Limited, said HSBC is investing in its wealth management capabilities across all customer segments. — Supplied photo

By Staff Report

Published: Mon 15 Aug 2022, 3:50 PM

HSBC has expanded its Markets and Securities Services business in the Abu Dhabi Global Market (ADGM), obtaining an arranging custody license for its key sovereign, institutional and investment manager clients.

Providing institutional clients with global custody services, the expansion connects customers to a custodian network in 96 markets around the world and provides a leading digital platform for securities services activities.

“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 in-vestment managers and retail customers,” Abdulfattah Sharaf, CEO of HSBC UAE and Head of Inter-national, HSBC Bank Middle East Limited, said.

“Our new presence in ADGM complements HSBC’s existing securities services presence across the region and around the world,” Abdulfattah added.

Custody services – the safekeeping and servicing of securities and other financial assets on behalf of clients – facilitate cross-border financial flows and support the risk management requirements of as-set owners and investment managers.

“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 raise more than $19 billion from investors worldwide in 2021 and more than $15 billion in the first half of 2022, placing us on top of Dealogic’s regional equity and debt rankings,” said Nabeel Abdul Rahim Albloushi, head of Corporate Sales MENAT, and head of Markets and Securities Services in the UAE, HSBC.

“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.”

HSBC is one of the world’s largest global custodians and held $10.8 trillion of assets as custodian for clients as of December 31, 2021, seven per cent higher than at December 31, 2020.

— business@khaleejtimes.com