Iconic Hong Kong brands HSBC and Cathay Pacific will join forces to co-sponsor the Hong Kong Rugby Sevens tournament under a new deal to kick in from 2012.
The four-year deal sees HSBC take over from sponsorship rights from Credit Suisse, which shared naming rights with Cathay Pacific for a decade.
Under the agreement the event will be knows as Cathay Pacific / HSBC Hong Kong Sevens.
For HSBC the move continues its long association with sport sponsorship, which now includes global sponsorship rights to the IRB World Sevens Series, the Asian Five Nations and the Asian Sevens Series.
The continued involvement of Cathay Pacific as an sponsor strengthens a 30-year association with the Hong Kong Sevens.
John Slosar, chief executive of Cathay Pacific Airways, said the group has had a long and happy association with the Sevens.
"We were there right at the beginning when the Sevens was born in 1976. And we are still supporting the Sevens some 36 years later," he said.
"As Hong Kong's airline, we believed in the Sevens from the start, just as we believe that Hong Kong provides the energy and sparkle that make the Sevens the unique and wonderful event that it is.
Slosar added with the backing of Hong Kong two biggest international brands, the Hong Kong Sevens will soar to new heights.
Stuart Gulliver, group chief executive of HSBC, said the bank's heritage in Hong Kong, and its historic long-term investment in rugby around the world, means that this sponsorship is a fantastic addition to its international rugby portfolio.
"We will work in partnership with the [Hong Kong Rugby Football Union] to use the profile and interest in the Cathay Pacific / HSBC Hong Kong Sevens to grow and develop the sport here in the Hong Kong community, as well as more broadly across Asia and the rest of the world."
Established in 1976, the Hong Kong Rugby Sevens is the city's most well-known sports event, drawing an annual sell out crowd of 40,000 to Hong Kong stadium.