HSBC (HSBC) said Monday that it has launched a United Arab Emirates asset management unit.
The British lender said it also registered 10 new onshore investment funds with the UAE's Securities & Commodities Authority.
The onshore funds will provide strategies that are domiciled in the UAE and managed by HSBC Asset Management, the company said.
Shares of HSBC were up 1.3% pre-bell.
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