HSBC has confirmed that in December 2026 it will open its second UAE wealth centre — in Abu Dhabi. The move extends a programme that started in 2025 with the first MENA wealth hub in Dubai. According to Mohamed Al Marzooqi, CEO of HSBC Bank Middle East in the UAE, it is the bank’s biggest wealth investment in the country in two decades. Here is what the launch means for HNW clients, business owners and family offices in the capital.
What HSBC is actually opening
HSBC has confirmed the launch of its second UAE wealth centre: it will open in Abu Dhabi in December 2026. The move continues a programme that started in 2025 with HSBC’s first MENA wealth hub in Dubai, located at the Jumeirah branch. In a Gulf News interview (12 October 2026) Mohamed Al Marzooqi, CEO of HSBC Bank Middle East in the UAE, described the project as “the largest wealth investment HSBC has made in its UAE operation in two decades.” The opening coincides with the bank’s 80th anniversary in the country — HSBC has been in the UAE since 1946.
Why Abu Dhabi now
The capital is methodically building out its wealth management infrastructure. Figures Al Marzooqi quoted in Gulf News show assets under management (AUM) at ADGM rose 54% year on year in the first half of 2026, while DIFC in Dubai already hosts 592 wealth and asset management firms. As we noted in our UAE economy 2026 outlook, financial services are among the fastest-growing non-oil segments — and Abu Dhabi is systematically shifting more of the private banking and family office centre of gravity onto its own territory.
What HSBC has already done in the UAE in 2026
HSBC positioned itself as the first global asset manager to launch an onshore UAE funds line — local funds for residents and investors inside the country — in 2026. According to Fintech News UAE citing HSBC and the South China Morning Post, 10 local funds were launched in January and tokenised deposits (multi-currency transfers available 24/7) rolled out in June for corporate clients. Sami Abouzahr was moved from Hong Kong to lead the regional wealth business.
How the bank’s large clients see the market
At its Dubai industry forum HSBC presented its own survey (reported by Fintech News UAE): 88% of more than 1,600 business leaders and 800 institutional investors from 16 markets plan to expand their Gulf operations over the next four years. Al Marzooqi also highlighted strong inflows of new HNW clients in the UAE in the first half of 2026, though the bank has not publicly disclosed specific client-growth figures.
What this means for Garant clients
For affluent investors, business owners and family offices operating between Dubai and Abu Dhabi, the second centre delivers one practical change: closer access to Premier and Private banking in your own emirate. Faster onboarding on large accounts, fewer trips for documents and signatures, and wealth-manager meetings that can take place in the capital. If you are planning asset structuring, a trust or a family office in ADGM, it is worth preparing the operating layer in parallel — setting up a working UAE corporate bank account before December so that your company already has an active financial perimeter when the centre opens.
Market context
HSBC’s second UAE centre is part of a broader wave. Over the past 18 months Advent International, Pretium, Scale AI, Robinhood and dozens of private wealth and PE firms have announced ADGM or DIFC presences. For the market this means rising competition among premium banks in the UAE — and therefore better terms for affluent clients. For analysts, 54% year-on-year AUM growth at ADGM shows capital is flowing to the capital faster than to Dubai. The next milestone to watch is Abu Dhabi Finance Week 2026 (7–10 December), where mandates and partnerships in exactly this segment are typically announced.
