Hang Seng Bank eyes Middle East expansion

Its two subsidiaries already have collaborations planned in Saudi Arabia.

Hang Seng Bank and two of its subsidiaries will introduce new collaborations in the Middle East region, the Hong Kong based bank announced.

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).

Hang Seng Indexes Company will separately explore collaborations in Saudi Arabia, leveraging its expertise as an index compiler to create opportunities and enhance connectivity between Hong Kong and Saudi Arabia, HSB said.

Both Hang Seng Investment and Hang Seng Indexes are fully-owned subsidiaries of Hang Seng.

Hang Seng recently joined a Saudi Arabia delegation, alongside Paul Chan Mo-Po, Financial Secretary of the Government of the Hong Kong Special Administrative Region (HKSAR), with the aim of promoting stronger ties between Hong Kong and the Middle East.