Finance
HSBC launches UAE asset management business to tap into wealth influx
Published by Global Banking and Finance Review
Posted on January 12, 2026
HSBC Unveils New Asset Management Business in UAE to Capture Wealth Growth
HSBC's Strategic Move into UAE Asset Management
DUBAI, Jan 12 (Reuters) - HSBC is opening an asset management business in the UAE and launching 10 onshore funds, it said on Monday, as the bank deepens its investment in the region and taps into an influx of wealth into the Gulf country.
Growth of High-Net-Worth Individuals in the UAE
"Our investment in building an onshore asset management business is about capturing the significant and long-term wealth opportunity in the UAE," Dinesh Sharma, HSBC’s Regional Head of International Wealth and Personal Banking for the Middle East and Turkey, said in a statement, citing demand for such structures regulated in the UAE.
Details of the New Onshore Funds
The country has, in recent years, witnessed an influx of high-net-worth individuals, attracted by the relative ease of doing business, convenient time zones, and tax-free status, prompting several global asset managers to start or expand their footprint here.
Leadership of the New UAE Entity
London-headquartered HSBC has been scaling back its worldwide operations as part of an overhaul started in 2024, including reorganising operating divisions along East-West lines and shedding sub-scale investment banking units. It has focused its growth efforts on regions such as Asia and the Middle East.
The bank has appointed James Grist as general manager of the new UAE asset management entity, the bank said in the statement without providing details on the size of the business and staff.
HSBC Asset Management had assets under management worth $852 billion as of the end of September last year.
(Reporting by Federico Maccioni; Editing by Harikrishnan Nair)
Frequently Asked Questions about HSBC launches UAE asset management business to tap into wealth influx
1What is asset management?
Asset management is the process of developing, operating, maintaining, and selling a portfolio of assets to maximize returns and minimize risks for investors.
2What is a high-net-worth individual?
A high-net-worth individual (HNWI) is a person with liquid assets above a certain threshold, typically over $1 million, making them a target for wealth management services.
3What is investment banking?
Investment banking is a division of banking that helps individuals or organizations raise capital by underwriting or acting as an agent in issuing securities.
4What are onshore funds?
Onshore funds are investment funds that are established and regulated in the same country where the investors reside, offering certain tax advantages.
5What is wealth management?
Wealth management is a comprehensive service that combines financial planning, investment portfolio management, and other financial services to manage an individual's wealth.
