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Leading financial institution BNY Mellon and the top banking group UAE NBD in the Menat (Middle East, North Africa and Turkey) region have announced a strategic alliance aimed at accelerating the growth of UAE capital markets.
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.
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.
Vibrant market infrastructure
Robin Vince, CEO of BNY Mellon, said: “BNY Mellon is proud to continue building on our rich decades-long history in the Middle East and play a role in enhancing the region’s vibrant market infrastructure NBD Important role, NBD is one of NBD’s leading financial institutions in the UAE. We look forward to further advancing our vision of trust and innovation in the Middle East through our partnership.
Shayne Nelson, Emirates NBD Group CEO, said: “Our strategic partnership comes at a pivotal time in the transformation of the UAE’s capital markets and is a testament to Emirates NBD’s continued commitment to strengthening local market infrastructure. The alliance brings Emirates NBD The on-the-ground strengths of BNY Mellon’s reach and long-standing reputation as a trusted financial services partner for individuals and businesses in the UAE, and BNY Mellon’s global expertise as the world’s largest custodian, create a win-win proposition for regional and overseas investors.”
UAE IPO boom
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 an opportune time, with the IPO boom in the UAE, with many local champions entering Markets. 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: “This strategic alliance will significantly enhance our advice to UAE investors by enabling seamless global market access. In addition, overseas investors can now Leveraging the upcoming IPO by the UAE strengthens the investor base and liquidity of the local exchange.”
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. – – arab trade news agency
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