HSBC Saudi Arabia has enhanced its fund administration platform to include support for private assets, responding to a significant shift among regional asset managers and institutional investors toward private markets. With a 20-year history of servicing domestic funds, the bank is now among the few global financial institutions in the Kingdom capable of managing both traditional and private asset classes on a single platform.
The expansion arrives as the Saudi asset management sector—now the largest in the MENA region—continues its rapid growth trajectory. Data from S&P Global highlights that the industry reached nearly $295 billion in total assets by early 2025, following a decade of steady 12% annual expansion. HSBC’s local CEO, Faris AlGhannam, noted that these new capabilities are designed to meet the evolving diversification needs of institutional clients as the Kingdom’s financial markets mature.
Globally, HSBC manages over $165 billion in private assets across various jurisdictions. In Saudi Arabia, the bank maintains a strong presence through its majority stake in HSBC Saudi Arabia and its significant shareholding in Saudi Awwal Bank (SAB), positioning it as a key player in the Kingdom’s ongoing economic transformation under Vision 2030.
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