DUBAI, July 10, 2013 /PRNewswire/ --
Award reiterates bank's strong proposition and range of products for affluent individuals in the region
HSBC has been named the "Best Wealth Management Firm" at the 2013 Banker Middle East Industry Awards. As the largest and most widely represented international bank in the region, with an unbroken presence of over sixty-five years, HSBC has developed a best-in-class suite of wealth management solutions for its affluent customers.
Organised by publisher CPI Financial, the annual awards ceremony recognises the leading financial organisations in the region. Over 10,000 members of the industry and the public selected the winners, making the event one of the most respected awards ceremonies in the regional banking industry.
Francesca McDonagh, HSBC's Regional Head of Retail Banking and Wealth Management for Middle East and North Africa said: "We are delighted to have been recognised for our wealth management capabilities at this prestigious event. Our strategy is driven by our focus on understanding customers and tailoring our service and product offering to meet their needs.
"HSBC is uniquely positioned in the region to help people plan for the different phases of their lives by offering advice and products aimed at addressing their most important financial priorities. In uncertain economic times, financial planning is more important than ever and we're pleased that the quality of our offering is being recognised by both customers and the industry."
HSBC has developed its wealth management capabilities to focus on ensuring customers can conveniently, efficiently and securely carry out their business and personal banking needs. This is highlighted by the bank's accredited wealth advisors who help clients prepare comprehensive financial plans so that customers can easily manage and grow their wealth.
The bank recently enhanced its investment services by introducing the innovative 'Wealth Dashboard,' which enables customers secure access and monitor multiple investments in one. The platform is part of the bank's growing wealth management offering that includes its Financial Planning Tool, which enables wealth managers to quantitatively measure a client's liquidity and risk appetite, before providing needs-based investment options for their portfolios.
HSBC has also diversified its range of products that allow customers to leverage the bank's global presence and access investment opportunities around the world. In a recent example, the bank introduced a structured investment product linked to the offshore renminbi bond market, which will allow the bank's customers the chance to participate in China's economic growth.
Notes to editors:
HSBC in the MENA Region
HSBC is the largest and most widely represented international banking organisation in the Middle East and North Africa (MENA), with a presence in 14 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. In Iraq, HSBC holds a majority shareholding in Dar Es Salaam Investment Bank. HSBC also maintains a representative office in Libya.
This presence, the widest reach of any bank in the region, comprises some 295 offices and around 12,000 employees. In the full year 2011, HSBC in the MENA region made a profit before tax of US $1,492 million.