HSBC Holdings’ asset management arm has officially received regulatory approval to establish a new branch in the United Arab Emirates, as part of its broader strategy to tap into one of the world’s fastest-growing wealth markets.

Launching operations from its new Dubai office, HSBC plans to roll out 10 locally-managed investment funds tailored for regional investors. The announcement was made by Daisy Ho, CEO of HSBC Asset Management for Asia and the Middle East, during an interview with Bloomberg Television.

“We have a long-term commitment to the Middle East, which is one of the fastest-growing wealth markets globally,” said Ho, highlighting the bank’s confidence in the region’s economic potential.

This move comes as part of HSBC’s strategic pivot toward Asia and the Middle East, aligning with its global restructuring initiative led by CEO Georges Elhedery. The bank is gradually reducing its exposure to certain Western markets while reinforcing its investment in key growth sectors, including corporate banking, investment banking, and wealth management across the Middle East.

With this expansion, HSBC joins a growing list of global financial institutions—such as BlackRock, Barclays, and several hedge funds—that are actively increasing their footprint in the region. The Middle East continues to attract international financial players, drawn by its robust economic diversification efforts, rising private wealth, and evolving regulatory landscape.

Dubai, in particular, has solidified its role as a regional financial hub, offering an attractive base for multinational firms seeking access to both Middle Eastern and broader global markets.

HSBC’s new branch not only reinforces its commitment to the region but also positions the bank to better serve a growing client base seeking tailored investment solutions in a dynamic economic environment.