HSBC to establish a wealth centre in Abu Dhabi and expand its Middle East wealth business

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HSBC will open a wealth centre in Abu Dhabi in December to expand its Middle East wealth business; the bank’s first regional wealth centre opened in Dubai last year. HSBC launched 10 local funds in January and rolled out tokenized deposits in June, allowing clients to transfer funds at any time in multiple currencies. A survey covering 16 markets found that 88% of business leaders plan to expand their regional operations over the next four years.