Abu Dhabi Investment Office (ADIO) has signed an agreement with State Street Corporation to establish a new operations center in the Al Ain Region.
The agreement marks a significant step in the company’s long-term strategy for further expansion in the UAE and the region, reinforcing its role as a strategic partner within the ADGM ecosystem.
On the sidelines of the signing ceremony, His Highness Sheikh Hazza bin Zayed Al Nahyan, Ruler’s Representative in Al Ain Region, met Ron O’Hanley, Chairman and CEO of State Street.
They discussed ways to strengthen cooperation and partnership in financial and investment services, supporting the company’s expansion in the Al Ain Region and enhancing the region’s appeal as a global hub for high-value investments and economic opportunities.
The new operations center will create more than 300 financial services roles over the next four years, providing meaningful career pathways for Emirati talent and professionals in the Al Ain Region.
Meanwhile, State Street will also collaborate with local universities to develop career and internship opportunities, alongside training initiatives and seminars aimed at nurturing the next generation of local talents, aligning with Abu Dhabi’s vision to build a knowledge-based, globally competitive workforce.
This collaboration forms part of ADIO’s FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster, a platform designed to develop high-value, exportable financial capabilities and support a future-ready financial services ecosystem.
By 2045, the cluster is projected to contribute an additional $15 billion (AED56 billion) to Abu Dhabi’s gross domestic product (GDP) and attract at least $4 billion (AED17 billion) in investment, supporting the emirate’s broader economic diversification agenda.
HE Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development (ADDED) and Chairman of ADGM, said that, “State Street’s expansion into Al Ain Region reflects the type of long-term, capacity-building partnership that supports Abu Dhabi’s economic development agenda across the emirate, aligned with the priorities of the Falcon Economy.”
State Street CEO and Chairman Ron O’Hanley noted that, “Our strategy is to meet our clients where they are going. We are committed to investing in the growth of our UAE business and expanding our presence in Abu Dhabi and the ADGM. Abu Dhabi, including Al Ain Region, is a strategic priority for State Street, and we believe our experience in global financial centers can support the emirate’s continued development as an important global financial hub.”
