Mid-Term Agreement in Place
Declan Hegarty joined HSBC in 1994, working on the Middle East and
Africa team in London. He moved to HSBC Financial Services Middle East in Dubai full-time
in February 1999 to focus on the project and export finance business that the Bank has
based in the region. He currently works as an assistant director in the Regional
Investment Banking Office.
Attending the Third Iran Petrochemical Forum (IPF 2001), Hegarty answered our questions on
a range of issues with respect to his own specialty which is looking at the financing of
capital, goods and equipment from overseas into Iran. “I certainly find myself
traveling to Tehran more than I used to,” he said when asked to comment on
HSBC’s business in Iran. Highlights:
Building up on Roots: We have been in this part of the world
for a very very long time. In fact Iran was the country which was the genesis of what
became British Bank of the Middle East, and the HSBC Representative Office later. We are
very pleased to come back into Iran. When we build up our business, we take medium to long
term view of markets. We have had a continuous representation in some countries on the
other side of the [Persian] Gulf for the last 50 years. There are always going to be very
good times and more difficult times in markets. Therefore, when we are looking at a
country, we tend to take a consistent view of the market and build up our business
gradually. Similarly, the move into Iran was aimed at building up our business.
| HSBC sees
good opportunities in Iran over the coming years in terms of doing business |
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