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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SOURCE BNY Mellon
