Jul 14 2011 |
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HSBC To Capitalise On Regional Trade Growth
HSBC today announced that Tim Evans has been appointed Head of Trade and Supply Chain, for the Middle East and North Africa. Most recently Regional Chief Operating Officer of HSBC 's Commercial Banking business in the region, Tim has previously held senior roles in Trade in the USA and Hong Kong.
"Trade and Supply Chain is one of our most important businesses, and I'm delighted that someone of Tim's proven experience and expertise is going to be leading it in the MENA region," said Tim Reid, Regional Head of Commercial Banking.
"As global trade flows move from the developed world to the emerging markets, the MENA region is a critical hub for the global economy, and HSBC is at the centre of this trend with its unrivalled regional and global connectivity."
Tim Evans added: " HSBC is committed to growing its Trade Finance business, particularly in the Middle East. This region is well positioned to take advantage of international trade flows and our customers will continue to be beneficiaries of this. We look forward to being able to work with them to take advantage of this important opportunity".
HSBC
in the MENA Region
HSBC
is the largest and most widely represented international banking organisation in the Middle East and North Africa (MENA), with operations in 14 countries.
HSBC
has branches and offices in the United Arab Emirates, Egypt, Qatar, Oman, Bahrain, Kuwait, Jordan, Lebanon, Pakistan, Algeria and the Palestinian Autonomous Area. In Saudi Arabia,
HSBC
is a 40% shareholder of Saudi British Bank (SABB), and a 60% shareholder of
HSBC
Saudi Arabia Limited for wholesale and investment banking in the Kingdom. In Iraq,
HSBC
holds a majority shareholding in Dar Es Salaam Investment Bank.
HSBC
also maintains a representative office in Libya.
This presence, the widest coverage of any bank in the region, comprises some 285 branches and offices, and around 12,000 people. In the full year 2010, HSBC made a profit before tax of $892 million in the MENA region.
Charles Clarke
Senior Manager, Corporate Communications
Global Banking and Markets and
HSBC
Amanah
HSBC
Bank Middle East Limited
Tel: 971 4423 5640
Email: charleswclarke@hsbc.com
© Press Release 2011
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