First Abu Dhabi Bank (FAB) has launched MENASSA (MENA Securities Services for Asset Managers), a new post-trade platform designed specifically for MENA-based asset managers that introduces new levels of sophistication for securities services in the region.
MENASSA incorporates a suite of world-class modular services delivered from a single platform, including Global Custody, Fund Accounting, Transfer Agency, Performance, and Risk Measurement, as well as Middle Office Services, fully integrated with FAB’s leading Capital Markets and Investment Banking capabilities.
MENASSA demonstrates FAB’s deployment of innovation and technology to enhance the operating framework for asset and wealth managers in the region, empowering them with world-class services, and helping them develop scale and deliver better client solutions.
Kashif Darr, Head of Securities Services at FAB, stated that, “MENASSA is designed to support this increase in the growth and complexity of the MENA investment industry, offering region-specific specialist expertise and product sets to support asset and wealth managers with the region’s differentiated investment regulatory and operational landscape.”
FAB’s new platform is designed to navigate global regulatory complexities that impact investment flows. With MENASSA, FAB focuses on the region-specific requirements of the growing asset and wealth management sectors, as per the statement.
Martin Tricaud, Group Head of Investment Banking, said that, “FAB’s mission aligns with the government’s vision to establish the UAE as a global finance hub and gateway to regional trade. The launch of MENASSA will enable FAB to provide an innovative, full-service, all-encompassing platform enriched with invaluable regional expertise tailored to support asset managers, as the region’s investment sector evolves.”
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