HSBC’s ambitious Mideast growth plan delivers as regional economy booms – The Peninsula

HSBC’s ambitious Mideast growth plan delivers as regional economy booms – The Peninsula

Doha: The first year of HSBC’s accelerated growth strategy in the Middle East is getting an added boost from Gulf Cooperation Council economies that are set to end 2022 among the world’s fastest growing with their strongest performance in a decade.

“We’re seeing clear results in the first year of execution of a strategic growth and investment plan that aligns directly to the substantial growth that is evident in this region and underpinned by many of the world’s most ambitious economic transformation programmes,” said Stephen Moss, Regional Chief Executive for HSBC Middle East, North Africa and Turkey (Menat).

“Our origins in this region date back to 1889 and our active support in its growth and development ever since is reflected in the strength and depth of the sovereign, institutional, corporate and personal banking client relationships we have built over the decades,” Moss said.

He added: “Our substantial on the ground presence and heritage gives us a unique perspective on the scale of the opportunity ahead, the channels and flows of global capital, and the role we can play in opening those up for our clients by connecting customers from Asia, Europe and the US to the huge long term potential there is in