HSBC expands Middle East footprint with onshore UAE asset funds

DUBAI, U.A.E.: As global banks intensify their focus on fast-growing wealth hubs, HSBC is setting up an onshore asset management business in the United Arab Emirates, aiming to capture rising investor demand in the Gulf.

The London-headquartered lender said Monday it will launch 10 onshore funds in the UAE, marking a significant expansion of its asset management presence in the country as wealth continues to flo