HSBC warns of growing risks on US recession

Notes and media contacts

Media inquiries to Dina Kotby, Press and Communications Executive, HSBC Bank Middle East Limited, on tel 04 3906634

1. About David Bloom
David is global head of foreign exchange strategy for HSBC. He has been with the Group for around fifteen years. Before taking up his current post, specialising in currencies and market strategies, David was the US economist for the Investment Bank at HSBC. He also has work experience within equity markets and the UK economy.
The HSBC strategy team is one of the best in the world with various survey's putting them consistently amongst the best. David is not afraid to express strong views and associated market strategies.
Coming from South Africa David worked his way through University in order to read for a Masters in Economics at London University. David then joined the investment banking side of HSBC in 1992 gaining economic and equity experience. In 1998, David took up his current post for HSBC Global Markets. David arrived in London in 1988 after completing an Honours degree from Witwatersrand University in Johannesburg South Africa.

2. HSBC Bank Middle East Limited
HSBC is the largest and most widely represented international bank in the Middle East. HSBC Bank Middle East Limited has 33 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Kuwait, Jordan, Lebanon, and the Palestinian Autonomous Area, including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group HSBC Bank Egypt SAE, and by its associated companies, The Saudi British Bank and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a representative office in Tehran, Iran.

3. HSBC Holdings plc
HSBC Bank Middle East Limited has been a principal member of the HSBC Group since 1959. Serving over 125 million customers worldwide, the HSBC Group has some 9,500 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,738 billion at 30 June 2006, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.