HSBC upgrades ME investment services
Dubai, May 28, 2013
HSBC Bank has upgraded its Middle East investment platform to allow the wealth management customers to view their entire investment portfolios through internet banking.
This facility will add to the extended suite of wealth management solutions the bank already offers to enhance customer experience and meet the needs of the Middle East's growing segment of affluent individuals.
The new investment platform model is provided by Pershing, a wholly-owned subsidiary of the Bank of New York Mellon, and is a no-fee program that allows customers to access all their investments with HSBC through a single online window - the Wealth Dashboard.
By providing access to entire portfolios in one place, this service will reduce time delays in checking multiple accounts and present a mechanism to easily access a broad range of investment choices and insurance products available by the bank.
Gifford Nakajima, regional head of Wealth Development, Retail Banking and Wealth Management, Mena, said: "The Middle East has witnessed significant growth in the numbers of affluent individuals and HNWIs over the past few years, and this trend is likely to continue."
"We recognize that a large number of these wealthy customers require access to a wider range of services to effectively manage and grow their wealth based on their goals, risk profile and liquidity."
"The platform will allow customers to expand their investment portfolios by accessing a broad range of products, including, mutual funds, bonds and structured notes. Additionally, they will be able to leverage HSBC's global presence to access investment opportunities across the world," he added.-TradeArabia News Service