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HSBC’s group head of sponsorship Giles Morgan has further revealed the reasons behind the recent deal with the IRB Sevens World Series.

The bank will become the first ever title sponsor of the current eight-tournament Series that heads to Dubai, South Africa, New Zealand, USA, Australia, Hong Kong, England and Scotland.

HSBC have also recently inked an agreement with Royal and Ancient Golf Club of St Andrews, golf's governing body. It has just been over 12 months ago since both rugby and golf were readmitted to the Olympic Games in 2016 in Rio de Janeiro.

"Not only do they (rugby sevens & golf) have the heritage which is attractive but both sports have a huge opportunity due to the Olympic Games.

"It's sort of an ancient-modern piece going on here," Giles Morgan, HSBC group head of sponsorship, told Reuters in an interview.

About 60 percent of the bank's sponsorship budget is spent towards the emerging markets, the executive said. Next season will sees the World Series expanding with both Argentina and Japan mooted as possible additions.

"Emerging markets is certainly one of the areas that HSBC is known for and within our sports portfolio a lot of what you see is that we are investing in sports that have to reach out to new markets," according to Morgan.

"The Olympics mean both rugby sevens and golf have to reach out to brand new countries and communities all over the world."

Morgan said the bank does not focus their investments on individuals as they pose a "big element of risk".

"One of the reasons we don't look at individuals is that there is a big element of risk involved with individuals. They can stray from their paths," he said.

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