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The partnership leverages BNY Mellon’s global capabilities with Emirates NBD’s regional expertise and deep footprint in the UAE market.
Akash Shah, Chief Growth Officer, BNY Mellon, and Ahmed Al Qassim, Group Head, Corporate and Institutional Banking, NBD, UAE. — photos provided
The Bank of New York Mellon, one of the world’s largest financial institutions, and UAE NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, announced a strategic alliance aimed at accelerating the development of capital markets in the United Arab Emirates (UAE).
The partnership combines BNY Mellon’s global footprint with Emirates NBD’s regional expertise to provide world-leading capital markets infrastructure and technology to clients in the UAE and around the world.
Robin Vince, BNY Mellon CEO-designate, said: “BNY Mellon is proud to continue building on our rich, decades-long history in the Middle East and enhance the region’s vibrant market infrastructure through Emirates NBD. Emirates NBD is one of them. The UAE’s leading financial institution. We look forward to working together to further our vision of trust and innovation in the Middle East.”
Shayne Nelson, Emirates NBD Group CEO, said: “Our strategic partnership comes at a critical time in the transformation of the UAE’s capital markets and is a testament to Emirates NBD’s continued commitment to strengthening the local market infrastructure. The alliance brings Emirates NBD’s on-the-ground The strength, reach and longstanding reputation as a trusted financial services partner for individuals and businesses in the UAE combine with BNY Mellon’s global expertise as the world’s largest custodian, for regional and overseas investors alike.”
BNY Mellon and Emirates NBD will work together to increase access to the UAE’s vibrant market for international investors through digitalisation. The UAE is currently experiencing capital market expansion, with multiple new listings on both the Dubai Financial Market and the Abu Dhabi Stock Exchange and a significant increase in market liquidity.
Akash Shah, Chief Growth Officer, BNY Mellon said: “The regional excellence of Emirates NBD and our global expertise will transform our collective customer experience. It comes at a time when many local champions have entered the market through the UAE’s IPO boom. Together, we will help create the infrastructure to capture long-term value from the UAE’s financial ecosystem, improve operational efficiency and investor access.”
Ahmed Al Qassim, Group Head, Corporate and Institutional Banking, Emirates NBD, said: “We are delighted to begin this strategic alliance, which will significantly enhance our advice to UAE investors by enabling seamless global market access. , overseas investors can now take advantage of the exciting opportunities created by the UAE’s upcoming IPO to strengthen the investor base and liquidity on local exchanges.”
BNY Mellon works with numerous sovereign wealth funds, financial institutions, governments and other clients in the region to provide asset servicing and ancillary services, corporate trust and treasury services.
Emirates NBD Group provides a range of financial products and services to customers, businesses, governments and institutions, including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury and brokerage business.
— business@khaleejtimes.com
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