HSBC is preparing to expand its wealth management presence in Abu Dhabi as the bank marks 80 years of operations in the UAE, with further investment planned across digital banking, corporate finance and local talent.
HSBC Bank Middle East plans to open a second wealth centre in the UAE in Abu Dhabi before the end of 2026, adding a new location to its existing wealth management operation in Dubai. The announcement, made as HSBC marks its 80th anniversary in the country on October 12, signals the bank’s intention to deepen its presence in one of the region’s established financial markets.
Mohamed Al Marzooqi, chief executive officer of HSBC Bank Middle East in the UAE, confirmed the Abu Dhabi plan in an interview with Gulf News. The bank opened its first wealth centre in Dubai in 2025.
The expansion comes as Abu Dhabi and Dubai continue to develop their financial services ecosystems, attracting investment firms, private wealth businesses and international capital. For HSBC, the focus is on serving clients who want access to international markets alongside banking and investment services within the UAE.
HSBC expands wealth management in Abu Dhabi
The planned Abu Dhabi centre is part of HSBC’s wider investment in its UAE wealth business. The bank has identified wealth management, transaction banking, capital markets and digital finance as areas for further development.
The announcement does not yet provide a specific opening date, address or details of the services that will be available at the new centre. Those details would help establish how the facility will differ from HSBC’s existing wealth management services.
For customers, a dedicated wealth centre can provide a setting for discussions about investment portfolios, financial planning and other wealth-related needs, depending on the services offered. Eligibility, product availability, fees and investment risks remain subject to the bank’s applicable terms and conditions.
UAE financial centres attract wealth businesses
The expansion is taking place as the UAE builds its position as a regional destination for wealth management and asset management.
Abu Dhabi Global Market (ADGM) and the Dubai International Financial Centre (DIFC) are two important parts of that landscape. Both provide financial-services environments designed to attract international firms and support business involving investment, banking and wealth management.
According to figures reported by Gulf News, assets under management in ADGM’s asset management sector increased by 54% year on year in the first half of 2026. DIFC reported 592 wealth and asset management firms.
These indicators point to activity across the UAE’s financial sector, although they do not, by themselves, establish how much new business HSBC’s Abu Dhabi centre will attract.
The bank also reported growth in its HSBC Premier customer base in the UAE during the first half of 2026. HSBC did not disclose a specific customer-growth figure in the report.
Digital investment and corporate finance remain priorities
HSBC’s UAE strategy extends beyond private wealth services. The bank has been developing digital investment tools and services for businesses and individual customers.
Its WorldTrader platform provides access to international investment markets through the bank’s mobile app. According to the bank’s reported information, customers can use the platform to access more than 30 global markets and 80 exchanges, with products including equities, exchange-traded funds, bonds and mutual funds.
For companies, HSBC is also involved in capital raising and debt-market transactions. Gulf News reported that the bank had led $19.75 billion in UAE initial public offerings since 2021 and arranged approximately $19.7 billion across 174 bond and sukuk transactions.
The figures illustrate the bank’s involvement in the UAE’s capital markets, where businesses and government-related entities can seek funding for expansion and investment. They are historical transaction totals reported by the publication, rather than a forecast of future activity.
HSBC has also identified infrastructure finance, corporate lending, trade and advisory services as areas where it expects further opportunities as the UAE develops its economy.
Emirati employment forms part of the expansion strategy
Local talent is another element of the bank’s plans. HSBC expects to employ 900 Emiratis by the end of 2026, according to the figures reported by Gulf News.
The bank’s Al Ain Centre of Excellence created career opportunities for 124 UAE nationals over a 12-month period, the publication reported. The centre forms part of HSBC’s efforts to develop local capabilities within its operations.
Building a workforce with knowledge of the UAE market can support the bank’s relationships with local businesses and individual clients, while creating career opportunities for Emiratis in financial services.
Eight decades of banking in the UAE
HSBC’s UAE operations began in 1946, when a bank opened in Dubai beside Dubai Creek. A historical account published by Gulf News identifies the branch as the first bank in Dubai.
Over the following decades, the bank expanded its presence in the country as trade, infrastructure and financial services developed. Its current plans place greater emphasis on wealth management, international investment access and services for businesses operating across borders.
HSBC’s 80th anniversary therefore arrives alongside a new phase of investment rather than a change in its established UAE presence. The immediate next milestone is the planned Abu Dhabi wealth centre, with its opening date and operational details still to be confirmed.
Q1. What has HSBC announced in the UAE?
HSBC plans to open a second wealth centre in the UAE, located in Abu Dhabi, before the end of 2026.
Q2. When will HSBC open its Abu Dhabi wealth centre?
The bank has indicated that the centre is expected to open before the end of 2026. A specific opening date has not been confirmed in the available report.
Q3. Does HSBC already have a wealth centre in the UAE?
Yes. HSBC opened its first UAE wealth centre in Dubai in 2025, according to the report published by Gulf News.
Q4. Why is HSBC expanding its wealth management business in the UAE?
The bank is seeking to develop its wealth management operations as the UAE strengthens its position in international finance, investment and asset management. HSBC has also identified digital finance and corporate banking as areas for investment.
Q5. What investment services does HSBC’s WorldTrader platform offer?
The platform provides access to international markets and investment products, including equities, exchange-traded funds, bonds and mutual funds. Customers should check HSBC’s official platform information for eligibility, availability and applicable charges.
Q6. What are ADGM and DIFC?
ADGM is Abu Dhabi’s international financial centre, while DIFC is Dubai’s international financial centre. Both support financial services and provide environments for firms operating in areas such as asset management and investment.
Q7. How many Emiratis does HSBC expect to employ by the end of 2026?
The Gulf News report says HSBC expects its Emirati workforce to reach 900 by the end of 2026. This is a reported target, not a confirmed final headcount.
Q8. Will the new Abu Dhabi centre change existing HSBC customer services?
No change to existing services was specified in the available report. Customers should wait for HSBC’s official announcement for details about the centre’s location, services and eligibility requirements.
