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Next-generation technology and flexible working concept will help retain and attract talent.
HSBC exceeded its 2017 Emiratisation target and continues to invest in the growth of UAE Nationals.
Dubai, UAE: HSBC UAE announced the opening of its purpose-built new Headquarters at 8A, Downtown Dubai – adjacent to Emaar Square. The 20-floor free-hold tower, owned by HSBC, reflects the Bank’s ambitions in the UAE.
The state-of-the-art high-rise is built using HSBC’s Global OpenWork Framework, which has delivered a more flexible way of working to more than 75,000 employees globally, making it one of the largest in the banking industry.
Abdulfattah Sharaf, Group General Manager, Chief Executive Officer, UAE & Head of International, HSBC Bank Middle East Limited, said, “HSBC has played a significant role in the development of the UAE, contributing economically and socially across seven decades since opening Dubai’s first bank in 1946. The new head office will enable us to build on that legacy, setting new standards for our people, changing the way we work and sharpening our focus on customers. Flexible working is an emerging concept in the region and we are setting the standards with the Group’s first ‘smart’ office in the Middle East.”
Smart and Flexible
Enabled by smart technology and an agile work environment, the 320,000 square foot head office will help the Bank shift towards modern ways of working. The latest telecommuting technology will give its employees the choice and flexibility of when, how and where to work.
HSBC UAE aims to develop a culture of innovation in preparation for a digital future. An Innovation Lab will provide an environment for employees to test and trial, and develop ‘proof of concept’ by partnering with FinTechs and universities to build an innovation ecosystem in the region.
“We wanted to create a workplace fit for the future. There is increasing evidence that more adaptable working environments promote productivity and well-being. Our new head office with next-generation technology, modern collaboration tools and flexible-working philosophy, will help us retain and attract the best people. It will also enhance our appeal among our growing Emirati talent base,” added Mr Sharaf.
“We are committed to playing our role in supporting the UAE’s Nationalisation agenda by providing diverse experience and skills to our UAE Nationals. We have created a brilliant and agile place to work, where all our people, including our Emirati talent can fulfil their ambitions.”
Investing to Grow
The UAE is an established gateway for international trade and capital flows, and HSBC’s investment in a purpose-built HQ signals the Bank’s plans to increase strategic investments across its consumer and wholesale banking business as part of its three-year country plan.
Mr. Sharaf said, “Our strategy is based around the UAE’s ambitious economic transformation agenda and key growth sectors - from trade and infrastructure, to tourism and retail. In our Commercial Banking and Global Banking & Markets businesses, we aim to help corporates, institutions and multinationals achieve their growth ambitions by supporting them in all aspects of their financing needs. This can range from trade finance and transaction banking to loans and access to capital markets.
We will grow our market share in retail banking through customised propositions that meet the needs of specific customer segments such as UAE Nationals and expats that envisage a long-term stay in the UAE. Digitisation is a key pillar of our growth strategy and we are looking to significantly drive digital adoption among corporate and retail clients.”
Wellness and Environmental Efficiency
HSBC’s new building is designed with wellness in mind. It includes a new Snapfitness gym, studio space for yoga classes, reflection room, an outdoor terrace and a number of vibrant coffee shops and restaurants.
The smart office at 8A, Downtown Dubai, is developed to the Leadership in Energy and Environmental Design (LEED) Gold standard, the global hallmark in sustainable building performance. This is in line with HSBC’s global sustainability strategy and priorities.
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HSBC in the MENAT Region
HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Turkey (MENAT), with a presence in 9 countries across the region. HSBC has operations in the United Arab Emirates, Egypt, Turkey, Qatar, Oman, Bahrain, Kuwait and Algeria. In Saudi Arabia, HSBC is a 40% shareholder of Saudi British Bank (SABB), and a 49% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom.
This presence, the widest reach of any international bank in the region, comprises some 350 offices and around 10,500 employees. In the year ending 31st December 2017, HSBC in the MENAT region made a profit before tax of US$ 1.5bn.
Media enquiries to:
Farah Farooq
+971 56 6867337
farah.farooq@hsbc.com
Stacey Comber
+971 56 9949104
stacey.m.comber@hsbc.com
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