Collaboration leverages BNY Mellon's global
capabilities with Emirates NBD's regional expertise and deep
footprint in the UAE market
DUBAI, United Arab Emirates,
July 5, 2022 /PRNewswire/ -- BNY
Mellon, one of the world's largest financial institutions, and
Emirates NBD, a leading banking group in the MENAT (Middle East, North
Africa and Turkey) region,
have announced a strategic alliance aimed at accelerating the
growth of United Arab Emirates'
(UAE) capital markets. The collaboration unites BNY Mellon's global
footprint with Emirates NBD's regional expertise to provide
clients, across the UAE and globally, access to world-leading
capital markets infrastructure and technology.
Robin Vince, CEO-elect of BNY
Mellon, said, "BNY Mellon is proud to continue to build on our rich
decades-long history in the Middle
East and play an important role in enhancing the region's
vibrant market infrastructure with Emirates NBD, one of the UAE's
leading financial institutions. We look forward to collaborating to
further our vision of trust and innovation in the Middle East."
Shayne Nelson, Group CEO of
Emirates NBD, said, "Our strategic collaboration comes at a pivotal
time of transformation in the UAE's capital markets and is
testament to Emirates NBD's ongoing commitment to enhancing local
market infrastructure. The alliance brings Emirates NBD's on-ground
strengths, reach and long-standing reputation as a trusted
financial services partner to individuals and businesses in the UAE
together with BNY Mellon's global expertise as the world's largest
custodian to create a win-win proposition for regional and overseas
investors alike."
BNY Mellon and Emirates NBD will work together to increase
international investor access to the UAE's dynamic market through
digitization. The UAE is currently experiencing an expansion of
capital markets with multiple new listings and significant increase
in market liquidity on both Dubai Financial Market and Abu Dhabi
Securities Exchange.
Akash Shah, Chief Growth Officer
at BNY Mellon, said, "Emirates NBD's regional excellence together
with our global expertise will transform our collective client
experience. It comes at an opportune moment, with a number of local
champions coming to 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, increase operational efficiencies
and investor access."
Ahmed Al Qassim, Group Head,
Corporate and Institutional Banking at Emirates NBD, said, "We
are delighted to begin this strategic alliance, which will
significantly enhance our proposition to UAE investors by enabling
seamless global market access. In addition, overseas investors can
now tap into the exciting opportunities created by UAE's upcoming
IPOs, strengthening the investor base and liquidity in the local
bourse."
BNY Mellon works with a wide range of sovereign wealth funds,
financial institutions, governments, and other clients throughout
the region, offering asset servicing and ancillary services,
corporate trust and treasury services.
Emirates NBD Group serves customers, businesses, governments and
institutions with a range of financial products and services
including retail banking, corporate and institutional banking,
Islamic banking, investment banking, private banking, asset
management, global markets and treasury, and brokerage
operations.
ABOUT BNY MELLON
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment and
wealth management and investment services in 35 countries. As of
March 31, 2022, BNY Mellon had
$45.5 trillion in assets under
custody and/or administration, and $2.3
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
ABOUT EMIRATES NBD
Emirates NBD (DFM: Emirates NBD) is
a leading banking group in the MENAT (Middle East, North
Africa and Turkey) region
with a presence in 13 countries, serving over 14 million customers.
As at 31st March 2022, total assets
were AED 694 billion, (equivalent to approx. USD 189 billion). The Group has operations in the
UAE, Egypt, India, Turkey, the Kingdom
of Saudi Arabia, Singapore,
the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in
China and Indonesia with a total of 901 branches and
4,060 ATMs / SDMs.
Emirates NBD Group serves customers, businesses, governments and
institutions with a range of financial products and services
including retail banking, corporate and institutional banking,
Islamic banking, investment banking, private banking, asset
management, global markets and treasury, and brokerage
operations.
The Group is a key participant in the global digital banking
industry with 94% of all financial transactions and requests
conducted outside of its branches. The Group also operates E20., a
digital business bank for entrepreneurs and SMEs and Liv., the
lifestyle digital bank for millennials. Emirates NBD is an active
participant and supporter of the UAE's main development and
sustainability initiatives, including financial literacy and the
inclusion of people with disabilities. Emirates NBD Group is a
Premier Partner and the Official Banking Partner for Expo 2020
Dubai.
Press Contacts:
Garrett Marquis
+1 (949) 683-1503 (m)
garrett.marquis@bnymellon.com
Ibrahim Sowaidan
Senior Vice President
Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com
Tricia Kaul
Vice-president, Finance Practice
asda'a bcw, Dubai, UAE
Tel: 971-4-4507600
Email: Tricia.Kaul@bcw-global.com
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