Hang Seng Strengthens Financial Collaborations in the Middle East In Partnership with Hang Seng Investment and Hang Seng Indexes Company
PUBLISHED ONOctober 29, 2024 10:16 AM
HONG KONG, Oct. 29, 2024 /PRNewswire/ -- Hang Seng Bank ('Hang Seng') continues to expand and deepen its global network. Together with its wholly owned subsidiaries, Hang Seng Investment Management Limited ('Hang Seng Investment') and Hang Seng Indexes Company Limited ('Hang Seng Indexes Company'), the Bank will introduce new collaborations in the Middle East region, aimed at fostering synergies that enhance investment offerings and drive innovation in financial cooperation between Hong Kong and the Middle East.
Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank along with senior management from Hang Seng Investment and Hang Seng Indexes Company, is a part of the business delegation to Riyadh, Saudi Arabia, led by the Financial Secretary of the Government of the Hong Kong Special Administrative Region. This visit highlights Hang Seng's efforts to explore the significant business opportunities in the region.
As the largest domestic bank in Hong Kong, Hang Seng is proud to be a part of the Saudi Arabia delegation, alongside the Honourable Paul Chan Mo-Po, Financial Secretary of the Government of the Hong Kong Special Administrative Region ('HKSAR'), to help promote stronger ties between Hong Kong and the Middle East. This highlights the Bank's important role in facilitating cross-border collaboration and capital flows between these key markets.
Diana Cesar, Executive Director and Chief Executive of Hang Seng Bank said, "We look forward to unveiling new collaborations in the Middle Eastern market for both Hang Seng Investment and Hang Seng Indexes Company. Hong Kong's unique position as a 'super connector' makes it an ideal hub for businesses looking to grow in the region, as well as global investors seeking to tap into Asia's growth opportunities. The new partnerships not only strengthen our Bank's presence in the Middle East, but also enhance the economic ties between Hong Kong and the region, promoting the cross-border flow of capital, talent, and ideas."
Building on these efforts, Hang Seng Investment, the Bank's asset management arm, has partnered with SAB Invest which will launch a new feeder fund in Saudi Arabia that fully invests into the Tracker Fund of Hong Kong ('TraHK'). Additionally, Hang Seng Indexes Company will explore collaborations in Saudi Arabia, leveraging its expertise as an index compiler to create opportunities and enhance connectivity between the two markets.
Ms Cesar along with senior management from Hang Seng Investment and Hang Seng Indexes Company, is currently part of a business delegation to Riyadh, Saudi Arabia, led by the Financial Secretary. Full details of the upcoming collaborations will be announced soon.