{"id":671118,"date":"2025-09-01T00:00:00","date_gmt":"2025-09-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/01\/egyptians-among-1k-wealthy-clients-facing-discontinued-service-from-hsbcs-swiss-private-bank\/"},"modified":"2025-09-01T00:00:00","modified_gmt":"2025-09-01T00:00:00","slug":"egyptians-among-1k-wealthy-clients-facing-discontinued-service-from-hsbcs-swiss-private-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/01\/egyptians-among-1k-wealthy-clients-facing-discontinued-service-from-hsbcs-swiss-private-bank\/","title":{"rendered":"Egyptians among 1k wealthy clients facing discontinued service from HSBC\u2019s Swiss private bank"},"content":{"rendered":"

HSBC\u2019s Swiss private bank is cutting ties with more than 1k wealthy <\/strong>clients <\/strong>from Egypt, Saudi Arabia, Qatar, and Lebanon<\/strong>, many of whom hold assets above USD 100 mn, Bloomberg<\/a> first reported last week, citing unspecified insider sources. The affected \u2014 and unnamed \u2014 clients are being told they will no longer be able to use the bank\u2019s services, with letters going out over the coming months instructing them to move accounts elsewhere. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The bank is reportedly looking to lower its exposure to high-risk clients<\/strong>, the sources told the business news information service. The news follows continuing regulatory oversight from the Swiss Financial Market Supervisory Authority after the financial watchdog blocked the Swiss-based bank in 2024 from entering into relationships with \u201cpolitically exposed persons\u201d that may be subject to corruption and ordered an external audit of high-risk client relationships. <\/p>\n

REMEMBER- <\/strong>HSBC Egypt and the HSBC Private Bank in Switzerland are legally and operationally separate entities, each falling under the laws and regulations of the countries they are in.<\/p>\n

The move doesn\u2019t mean HSBC is bowing out of the region, where it maintains its<\/strong> \u201cabsolute commitment\u201d to its clients.<\/strong> \u201c[We will] continue to have deep roots in the region and are fully committed to our customers who are at the heart of everything we do,\u201d International Wealth and Premier Banking CEO Barry O\u2019Byrne said in a statement seen by EnterpriseAM. <\/p>\n

HSBC\u2019s current strategy to grow its Wealth business will see \u201ccontinued investment in <\/strong>both [its] Middle East and Swiss businesses<\/strong> to deliver best-in-class service to [its] customers,\u201d he said<\/p>\n

This isn\u2019t the first time that our part of the world has caused concern for the Swiss <\/strong>regulator<\/strong>, after it said last year that the Swiss bank did not properly vet USD 300 mn in Lebanon-Switzerland transactions between 2002 and 2015. HSBC\u2019s Swiss private banking arm is also under investigation<\/a> in Switzerland for alleged money laundering linked to Lebanon\u2019s former Central Bank Governor Riad Salameh.<\/p>\n

HSBC\u2019s Swiss private bank has been central to the group\u2019s global wealth ambitions but <\/strong>has repeatedly been hit by regulatory probes. <\/strong>The latest purge underscores how compliance pressure is reshaping global banks\u2019 relationships with politically exposed clients in the Middle East.<\/p>\n

The news got traction in the world\u2019s other main business outlets<\/strong>, including the Financial<\/a>Times<\/a> and Bloomberg<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The bank is reportedly looking to lower its exposure to high-risk clients<\/p>\n","protected":false},"author":1,"featured_media":671119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,72,490,686],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-671118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-enterpriseam","tag-hsbc","tag-switzerland","wpautop","entry"],"acf":{"mongo_id":"cc9e089d-e299-4e39-9121-3ff20d9b4421","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/20.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptians among 1k high-net-worth individuals kicked from HSBC\u2019s Swiss private bank following regulatory scrutiny","related_issue":[671102],"teaser":"The bank is reportedly looking to lower its exposure to high-risk clients","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.6932cf45-1f87-463e-b2dc-b33a05c4bbdb.mp3"},"yoast_head":"\nEgyptians among 1k wealthy clients facing discontinued service from HSBC\u2019s Swiss private bank - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/09\/01\/egyptians-among-1k-wealthy-clients-facing-discontinued-service-from-hsbcs-swiss-private-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egyptians among 1k wealthy clients facing discontinued service from 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In classic August fashion, it\u2019s a pretty quiet morning here in Egypt with very little making headlines at home. In today\u2019s issue we dive into a recent BMI report all about the country\u2019s economic performance for the decade to come, upcoming changes to how solidarity contributions are\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/8\/1467.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685966,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/25\/cib-says-it-received-the-green-light-to-start-due-diligence-on-hsbc-egypts-retail-franchise\/","url_meta":{"origin":671118,"position":3},"title":"CIB says it received the green light to start due diligence on HSBC Egypt\u2019s retail franchise","author":"enterpriseam admin","date":"25 February 2026","format":false,"excerpt":"CIB is not the only potential suitor for HSBC\u2019s retail business in Egypt if the latter decides to sell, with three other major players also said to be interested","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/1\/437.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592312,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/03\/hsbcs-net-income-more-than-doubles-in-1h-on-rising-rates\/","url_meta":{"origin":671118,"position":4},"title":"HSBC\u2019s net income more than doubles in 1H on rising rates","author":"enterpriseam admin","date":"3 August 2023","format":false,"excerpt":"The bank has upgraded its full-year guidance for net interest income","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/111.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685440,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/02\/23\/hsbc-says-its-committed-to-commercial-investment-banking-in-egypt-amid-reports-its-inching-closer-to-exiting-retail-franchise\/","url_meta":{"origin":671118,"position":5},"title":"HSBC says it\u2019s committed to commercial, investment banking in Egypt amid reports it\u2019s inching closer to exiting retail franchise","author":"enterpriseam admin","date":"23 February 2026","format":false,"excerpt":"\u201cHSBC is very committed to Egypt as a strategic market in which we are squarely focused on the needs of our corporate and investment banking clients,\u201d HSBC Egypt CEO Todd Wilcox told EnterpriseAM","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/10\/1303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=671118"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/671118\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/671102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/671119"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=671118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=671118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=671118"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=671118"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=671118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}