Abu Dhabi picks HSBC to drive its business in Asia

Staff reporter

Abu Dhabi Investment Office, responsible for inward investment and the economic transformation of Abu Dhabi, has announced HSBC Bank Middle East in the UAE as their preferred international banking partner in Asia.

The parties have agreed to collaborate on promoting outbound and inbound business and investment opportunities for the capital and its leading institutions in international markets, according to a statement released yesterday.

HSBC will also play a key role in connecting ADIO with opportunities across international markets where the lender has a strong presence, the statement said.

David Liao Yi-chien, co-chief executive of Asia Pacific at HSBC, said the bank's 160-year heritage in Asia, strong footprint across 17 markets, and more than 75-year presence in the UAE gives it the expertise and reach to help achieve Abu Dhabi's international goals.

In other news, Hang Seng Bank (0011) declared a third interim dividend of HK$1.2 per share yesterday, the same as the first two interim dividends proposed earlier this year.