First Abu Dhabi Bank partners with State Street
15 July 2021 Abu Dhabi
Image: Mohammed/adobe.stock.com
First Abu Dhabi Bank (FAB) and State Street have entered into an alliance to create a full-service enterprise offering for institutional investors in the region.
The partnership will leverage FAB鈥檚 regional securities services expertise, incorporating the largest direct custody network in the Middle East and North Africa (MENA), and State Street鈥檚 global strength and capabilities, FAB explains.
Additionally, the alliance will provide MENA investors with reach into more than 100 markets around the world, and a product range servicing listed and unlisted asset classes, delivered by in-country client service teams in the UAE, Saudi Arabia, Kuwait, Oman, Bahrain and Egypt.
Clients will have access to State Street鈥檚 full suite of front, middle and back office capabilities and its data management and analytics solutions, which integrates with FAB鈥檚 regionalised suite of securities services products, local expertise and regional direct custody network.
Hana Al Rostamani, group CEO of FAB, comments: 鈥淭he Middle East investment landscape is distinctive with some of the world's largest sovereign wealth funds alongside a diverse range of private investment institutions. These investors require access to sophisticated investment tools and solutions across both their MENA and global investments.鈥�
Rostamani notes that the alliance between FAB and State Street creates a unique platform, delivering leading capabilities across the entire investment value chain that cater for the characteristics of regional and global investments.
Ron O鈥橦anley, chairman and CEO of State Street, says: 鈥淭his partnership between FAB and State Street presents a unique proposition for MENA investors and those who invest in the region.鈥�
O鈥橦anley adds: 鈥淐lients are looking for financially secure and operationally resilient partners who can manage the non-core elements of their business, helping to deliver operational efficiencies, reduce costs, mitigate risks and navigate complex regulation.鈥�
The partnership will leverage FAB鈥檚 regional securities services expertise, incorporating the largest direct custody network in the Middle East and North Africa (MENA), and State Street鈥檚 global strength and capabilities, FAB explains.
Additionally, the alliance will provide MENA investors with reach into more than 100 markets around the world, and a product range servicing listed and unlisted asset classes, delivered by in-country client service teams in the UAE, Saudi Arabia, Kuwait, Oman, Bahrain and Egypt.
Clients will have access to State Street鈥檚 full suite of front, middle and back office capabilities and its data management and analytics solutions, which integrates with FAB鈥檚 regionalised suite of securities services products, local expertise and regional direct custody network.
Hana Al Rostamani, group CEO of FAB, comments: 鈥淭he Middle East investment landscape is distinctive with some of the world's largest sovereign wealth funds alongside a diverse range of private investment institutions. These investors require access to sophisticated investment tools and solutions across both their MENA and global investments.鈥�
Rostamani notes that the alliance between FAB and State Street creates a unique platform, delivering leading capabilities across the entire investment value chain that cater for the characteristics of regional and global investments.
Ron O鈥橦anley, chairman and CEO of State Street, says: 鈥淭his partnership between FAB and State Street presents a unique proposition for MENA investors and those who invest in the region.鈥�
O鈥橦anley adds: 鈥淐lients are looking for financially secure and operationally resilient partners who can manage the non-core elements of their business, helping to deliver operational efficiencies, reduce costs, mitigate risks and navigate complex regulation.鈥�
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