HSBC Launches Asset Management Business in the UAE to Tap Growing Wealth Influx
DUBAI — January 12, 2026 — HSBC, one of the world’s largest banking and financial services institutions, has officially launched a new asset management business in the United Arab Emirates (UAE), marking a significant expansion of its footprint in the Middle East’s fast-growing financial sector.
This strategic move reflects HSBC’s confidence in the UAE’s rising importance as a global hub for wealth and investment, driven by a steady influx of high-net-worth individuals (HNWIs), favourable economic policies, and regulatory reforms aimed at deepening local capital markets.
A New Hub for Investment in the Middle East
As part of the launch, HSBC introduced 10 new onshore investment funds registered with the UAE’s Securities and Commodities Authority. These funds span a variety of asset classes and investment strategies, designed to provide both retail and institutional investors in the UAE with diversified and locally regulated investment options.
The establishment of an onshore platform enables investors to access globally diversified portfolios while remaining within the UAE’s regulatory framework. This aligns with broader efforts by the UAE government to encourage the domicile of investment products and support the growth of its financial markets.
Strategic Leadership and Vision
HSBC has appointed James Grist as General Manager of the new UAE asset management entity. Under his leadership, the business will focus on expanding the bank’s investment solutions in the region and catering to the evolving needs of a sophisticated investor base.
Dinesh Sharma, HSBC’s Regional Head for International Wealth and Personal Banking in the Middle East and Turkey, stated that the initiative aims to capture the significant and long-term wealth opportunities emerging in the UAE. The country’s business-friendly environment, favourable tax regime, and strategic geographic location have attracted wealthy investors globally, helping transform it into a regional wealth centre.
Part of a Broader Global Strategy
HSBC’s expansion in the UAE comes amid a broader corporate restructuring that began in 2024, in which the bank is shifting its focus toward high-growth regions such as Asia and the Middle East while scaling back in less profitable areas of its global business. The new asset management business is a key pillar of this strategy, reinforcing HSBC’s commitment to serving markets with strong long-term prospects.
As of September 2025, HSBC Asset Management oversaw around $852 billion in assets under management globally, underscoring the scale of the bank’s investment expertise that will now also be available to UAE-based investors.
Why the UAE Matters to Global Investors
The UAE has emerged as a magnet for global wealth, particularly from entrepreneurs, family offices, and international investors seeking stability, tax efficiency, and access to global markets. Its zero personal income tax, expanding financial infrastructure, and regulatory innovations have positioned the country as a competitive alternative to traditional Western wealth centres.
By establishing an asset management hub in Dubai, HSBC joins a growing number of international financial institutions deepening their presence in the region — from global banks to hedge funds — all seeking to cater to a dynamic investor community and tap into the rising capital flows through the Gulf.
Looking Ahead
HSBC’s new UAE asset management business is expected to play a significant role in both serving local investors and facilitating cross-border investment flows. As the UAE continues to enhance its financial services ecosystem, initiatives like this are likely to strengthen its position as a global wealth management destination in the years ahead.