HSBC officially launched its Global Private Banking services in Kuwait, uniquely positioned as an international bank with an investment advisory license to conduct private banking in the country.
The launch marks the expansion of the bank’s wealth management services in the Middle East, offering world-class wealth solutions and global private banking expertise.
The banking major’s extensive international network and access to commercial banking and market capabilities are expected to come as an added advantage in expanding business in this segment.
“Kuwait, with its strategic location and diversifying economy, presents a significant opportunity for wealth management services,” said Samer Alabed, CEO of HSBC Kuwait.
“We see growing demand for more sophisticated wealth management services as Kuwait’s vision continues to transform the country into a regional trade and investment hub,” he said.
Rayan Kazerooni, Market Head, Global Private Banking at HSBC Kuwait, said the bank is excited to connect its clients to global opportunities and open up a world of personalised financial solutions tailored to their needs.
HSBC Global Private Banking advises on a broad range of tailored solutions in Kuwait in line with international investment norms.
Its advisory service covers best in class investment and wealth management in products such as equities, financial instruments and real estate across the globe including a catalogue of wealth planning, family office management and generational organisation and transitioning of wealth.
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