US global custodian Bank of New York Mellon (BNY Mellon) has bolstered its presence in the Mena market after opening an office in Abu Dhabi General Market (ADGM).
Although the bank has been operating in Abu Dhabi since 1998, this is the first time it has opened a representative office in the emirate’s global financial centre.
The new unit will provide support for both existing and prospective clients. It will be led by Anthony Habis, head of client management and regional head for Middle East and Africa.
“Our focus is to deepen our relationships with Middle Eastern institutional investors, strengthen our footprint and drive to innovate and to deliver leading solutions across the region has never been greater,” said Hani Kablawi, chairman EMEA and CEO of global asset servicing at BNY Mellon.
The arrival of the bank was also welcomed by Richard Teng, chief executive of the Financial Services Regulatory Authority of ADGM. “As an international financial centre and financial regulator, we look forward to working closely with BNY Mellon and like-minded institutions to foster an open and vibrant environment that augments Abu Dhabi’s position as a leading global financial centre and investment hub,” said Teng.
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