SABB, the Saudi-based affiliate of HSBC, has inaugurated the first SABB Premier Centre in Riyadh as part of the roll out of HSBC Premier across 35 countries and territories to establish a global banking service. The new SABB Premier Centre in Riyadh is located at SABB's Super Branch in north Olaya. The next two Centres will be opened in Jeddah and Dammam over the next three months, and another 10 are planned to open in 2008. Saudi Arabia is one of the first 35 countries and territories to roll out HSBC's new Premier service, which was announced earlier this month and is designed to offer seamless cross-border banking through 250 International Premier Centres in major cities around the world. Each location will have access to all the information needed to serve customers and provide local advisory services. SABB managing director John Coverdale said: "We are proud to be one of the first countries in the world to be linked into this global HSBC initiative that enables our SABB Premier customers to receive top quality service wherever they travel." HSBC established a formal joint venture, for which it holds management control, with SABB – the former Saudi British Bank – in 2005.