Saturday 27 Shawwal 1435H - August 24, 2014 AD, time: 21:00 Sobhi Tabbara
Change the font Copy the Arab line Tahoma Kufi Arab Amiri Constant Scheherazade Nice Dubai: Assistant Zayani
Said Sobhi Tabbara, regional president for «HSBC Private Banking» for the Middle East and North Africa, Turkey, The Middle East region is the global market is important for Global Private Banking, which connects the customer centers, private banking services, such as the United Kingdom and Switzerland, referring to the that investors of high net worth are looking increasingly to take advantage of private banking services provided by the centers alternative, such as Singapore and Hong Kong, and in general, and in spite of the desire of many customers to keep a portion of their investment portfolios locally, the vast majority of high net-worth seeking to diversify part of their wealth outside the Middle East. said Tabara, in dialogue with the «Middle East», the regulatory environment in the region is changing rapidly and will continue to be so, and with the increasing scrutiny from the perspective of fiscal transparency will have individual clients with high net worth wealth management within a strict regulatory framework, where the exchange of information across different countries is prevalent. * What are the services provided by the «HSBC» Private Banking in the Middle East and North Africa? - on a global level, the «HSBC» Services Private Banking, providing a range of services for individual customers of high net worth and families. We focus on building long-term relationships in order to help our clients develop and manage their wealth and maintain it through the provision of cutting edge solutions in the areas of investment and business and how to move and pass the assets through the generations, so naturally through providing excellent services. * What are the sectors that are focused in the field of acts of private banking? - usually concentrated our attention on customers from the owners of companies and enterprises who have special financial needs of overlap in many times with their other business. For this reason, it is able to private banking that holds the private wealth management, and help companies seeking to develop its business on an international level, and has a «HSBC» legacy proud of the achievements in the field of business services, commercial banking, and strive to be the bank services private banking clients to the group of high net worth individuals and institutions alike, and a primary focus on private banking customers of high net worth individuals. From this perspective, highlights the strength of the Group's business sector companies and investment banking services, enabling us to provide customers with products and services are consistent and compatible with their needs, and through cooperation with our colleagues in other business sectors with the bank we are able to provide support and assistance to customers, not only in the management of their financial assets but in our ability to help them grow their business. We can help clients who are seeking to borrow or Options financial restructuring and provide them with access to opportunities for joint investment. * What is the added value that Temtlkunha services offered by banks and other special? - enjoy global presence, particularly in fast-growing markets, enabling us to connect customers Private Banking centers the world's leading and enabling them to take advantage of global opportunities, we offer a range of services very distinct and different services accepted in the private banking sector, as we provide to our customers a range of opportunities in the fastest-growing global markets. And is available to customers of the owners of their growing wealth of new types of investments that are met by providing a variety of investment opportunities for clients. The start of these investments from underwriting bonds the Chinese until new versions in fixed income instruments Global in Latin America or real estate investments in Turkey. * Is the Middle East region retain the funds, or that customers prefer to keep them out of the area? - traditionally, the Middle East region is considered an important global market for global private banking services that connect clients private banking centers, such as the United Kingdom and Switzerland. But investors of high net worth are looking increasingly to take advantage of private banking services provided by the centers, alternative, such as Singapore and Hong Kong, and in general, and in spite of the desire of many customers to keep a portion of their investment portfolios locally, the vast majority of the owners of wealth Big seeking to diversify part of their wealth outside the Middle East. For these customers, the bank's ability to link them to service centers Global Private Banking, such as Switzerland, Singapore, London and Hong Kong, are of great importance. * What are the developments of the most interesting, which occurred in the sector of private banking at the present time? - I think the most exciting developments , which occurred in the sector of private banking at Bank specifically, is to devise solutions for individual customers. Has turned private banking business away from being a work based on the asset allocation is pure, and that will continue. In the future, it will become the best institutions services provider of private banking institutions are able to assist customers in managing their portfolios fully, and in addition to Wealth Management, the Private Banking will help customers develop and grow their business or increase their wealth (through strategic acquisitions or IPOs), which helps them to protect its value (through services, such as planning), and guide customers to comply with the standards of corporate governance when thinking about how to manage their assets in the future. * It is well known that the area contains a large part of the family business, how can you help family businesses from the Middle East From the perspective of corporate governance family? - given the structure of the family businesses in the Middle East and the GCC in particular, the corporate governance consultancy family is considered a vital factor for family businesses passed down through the generations, and continue to grow and develop. Sadly, the fact that in this region, as is the case in the rest of the world, that the majority of family businesses fail not continue for the third generation, and facing family businesses all over the world a range of problems the public, such as planning for continuity, planning to pass assets across generations and management differences. Although management considers these problems is necessary for both the family and the family business at the same time. In «HSBC», works to have about 700 experts in the private wealth management specialists in providing advice to clients of high net worth very on issues related to governance and planning for the transition and pass and assets across generations. * what the nature of the business that you give to this family business? - When asked by a private bank like us to provide assistance to develop a plan for the future of the family business, the first step in providing advice often is to encourage members to think about their legacy in the long term, and not over the next ten years only, but over the past thirty the next, percent or even years to come. Each family company of its own objectives and unique, but once they are agreed on the broad vision would be we can work on the formulation of appropriate organizational structures to achieve these common goals, and begin the next phase to establish the organizational structures of ownership of assets and tangible assets, such as funds, treasury and other assets other. It also is designing an integrated management arrangements and supportive (programs). And are created in consultation with the family to reflect the goals so aware of every member of his responsibilities and terms of reference, and as the demand for this type of service is growing, it is currently working on the development of organizational structures innovative to help family businesses to protect their capital and assets through future generations at all times . * What are the other trends that could affect the private banking business in the region? - over the next ten years will continue to move assets and pass wealth between generations, and we believe that it will lead to the emergence of a number of changes that will affect the private banking business in the region. First: the fragmentation of the assets will be greater after distribution among the heirs. Second, we will continue to see a shift in the needs and preferences of customers, where would seek a younger generation of heirs, which is characterized by the vision and financial requirements of more sophisticated to deal with us as banks in particular, and finally .. will continue to organize at the top of the agenda of the private banking services in the Middle East and the world alike. And witnessing the regulatory environment has changed rapidly and will continue to do so. With the increased scrutiny from the perspective of fiscal transparency will have individual clients with high net worth wealth management within a strict regulatory framework, where the exchange of information across different countries is prevalent.