BNY Mellon and Emirates NBD announce strategic alliance to accelerate growth of UAE capital markets

The joint collaboration is based on BNY Mellon’s global capabilities, regional expertise and Emirates NBD’s broad reach

Dubai United Arab Emirates: BNY Mellon Bank, one of the world’s largest financial institutions, and Emirates NBD, the leading banking group in the Middle East, North Africa and Turkey, today announced a strategic alliance aimed at growing capital markets in the UAE to accelerate. This alliance combines BNY Mellon’s global scope with Emirates NBD’s regional expertise, to provide opportunities for clients in the UAE and abroad to access the infrastructure that supports leading capital markets, cutting-edge technology and access to global markets.

Commenting on this strategic alliance, Robin Vince, the nominee for CEO of BNY Mellon Bank, said: “We are proud of our long history in the Middle East region and are proud to build on this rich legacy and to continue going to play an important role. role in the financial framework through this Strategic Alliance with Emirates NBD, one of the leading financial institutions in the UAE. We look forward to this collaboration to support our vision of spreading a financial culture based on trust and innovation in the Middle East. “

Shane Nelson, Group CEO, Emirates NBD, said: “This strategic partnership comes at a crucial time in the transformation of the capital markets in the UAE, reflecting our continued commitment to Emirates NBD to strengthen the local market infrastructure. This partnership brings together Under the real strengths of Emirates NBD, and our wide range and long-standing reputation as a partner that can trust individuals and companies in the country in the field of financial services, in addition to BNY Mellon’s global experience as the largest investment bank in the world, which benefits both domestic and foreign investors.

This alliance in the sector, which complements the strengths of both parties, aims to increase the opportunities for international investors to access the country’s dynamic market through digitalisation. The UAE is currently witnessing an expansion in the capital markets through the listing of new shares in the stock market, where market liquidity has seen a significant increase in both the Dubai Financial Market and the Abu Dhabi Stock Exchange.

Akash Shah, Chief Growth Officer, BNY Mellon, said: “We will transform the customer experience thanks to Emirates NBD’s regional excellence, as well as our global expertise. We believe that this is the most appropriate time for this step, especially with the entry of a number of large local companies into the market in the context of the boom in public offerings that the country is witnessing. This exceptional alliance will help to create the infrastructure that helps to realize long-term value from the national financial system and to improve operational efficiency and the ability of investors to obtain the necessary services. ”

In turn, Ahmed Al Qassim, Head of Corporate and Institutional Banking at Emirates NBD, said: “We are pleased to lead this strategic alliance, which will greatly contribute to the improvement of our services to investors in the country, through them in enable worldwide access. markets with absolute ease. “Foreigners are now also taking advantage of the unique opportunities offered by IPOs scheduled in the UAE, which will improve the investor base and liquidity in the local stock exchange.”

BNY Mellon works with a wide range of sovereign wealth funds, financial institutions, governments and other clients across the region, providing asset services, ancillary services, corporate trust and treasury services.

Emirates NBD Group serves a diverse range of clients, corporations, governments and institutions by providing a range of financial products and services including retail, corporate and institutional banking, Islamic, investment and private banking, asset management, global markets, treasury and brokerage services operations.

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About BNY Mellon

BNY Mellon is a global investment company focused on helping its clients manage and service their financial assets throughout the investment cycle. Through its financial services to institutions, corporations and individual investors, the company provides investment and wealth management services based on well-established foundations in 35 countries. As of March 2022, the company has managed $ .545 trillion in assets under management and / or management, and $ 2.43 trillion in assets under management. The company also serves as a single point of contact for clients who want to create, trade, hold, manage, service, distribute and restructure investments. It is also a trademark of Bank of New York Mellon Corporation (CC) on the New York Stock Exchange.

For more information, visit her website: www.bnymellon.com, follow her Twitter page (@BNYMellon), or visit her newsroom www.bnymellon.com/newsroom for the latest news and developments.

About Emirates NBD

Emirates NBD Bank, listed on the Dubai Financial Market (Emirates NBD), is a leading banking group in the Middle East, North Africa and Turkey, with a presence in 13 countries and serving more than 14 million clients. As of March 31, 2022, its total assets amounted to 694 billion dirhams (equivalent to approximately $ 189 billion). The group operates in the United Arab Emirates, Egypt, India, Turkey and Saudi Arabia

Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and has representative offices in China and Indonesia through its 901 branch network in addition to 4,060 ATMs and ATMs.

The Emirates NBD Group provides a range of financial products and services to individuals, companies, government agencies and institutions, including institutional, Islamic, investment and private banking, asset management, global markets, treasury and brokerage operations.

The group is a major contributor to the digital banking industry worldwide, and the bank has recorded more than 94% of overpayments and orders outside its branches. The group owns, E20. The digital bank for entrepreneurs and SMEs, Liv. Emirates NBD’s digital banking platform for millennials. Emirates NBD is committed to participating in and supporting the most important development and sustainable development initiatives in the UAE, including financial literacy and the integration of people of determination in society. In addition, Emirates NBD Group is the first official partner of Expo 2020 Dubai in the field of banking services.

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