First Abu Dhabi Bank, State Street Ink Strategic Alliance - Quick Facts

(RTTNews) - UAE's largest bank First Abu Dhabi Bank PJSC or FAB, and State Street Corp. (STT) announced Monday a new strategic alliance that leverages FAB's regional securities services expertise, incorporating the largest direct custody network in the Middle East and North Africa (MENA), and State Street's global strength and capabilities.

The alliance will create a full-service enterprise offering for institutional investors in the region. It will provide MENA investors with extensive reach into more than 100 markets around the world, an unrivalled product range servicing all major 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's full suite of front, middle and back office capabilities, in addition to its extensive data management and analytics solutions, which seamlessly integrate with FAB's regionalised suite of securities services products, local expertise and regional direct custody network.