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

The collaboration leverages BNY Mellon’s global capabilities with Emirates NBD’s regional expertise and strong presence 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 region (Middle East, North Africa and Turkey) announced a strategic alliance to accelerate the growth of United Arab Emirates’ (UAE) capital markets. Collaboration unites BNY Mellon’s global footprint with Emirates NBD’s regional expertise to provide clients across the UAE and globally with access to cutting-edge financial markets infrastructure and technology .

BNY Mellon and Emirates NBD Group

Robin VinceCEO-elect of BNY Mellon, said, “BNY Mellon is proud to continue to build on its rich, decades-long history in the Middle East and play an important role in enhancing the region’s dynamic market infrastructure with Emirates NBD, one of the leading financial institutions in the United Arab Emirates. We look forward to working together to advance our vision of trust and innovation in the Middle East.”

Shayne NelsonEmirates NBD Group CEO, said: “Our strategic collaboration comes at a pivotal time in the transformation of the UAE’s capital markets and demonstrates Emirates NBD’s continued commitment to improving the local market infrastructure. The alliance brings Emirates NBD’s strengths on the ground, its reach and long-standing reputation as a trusted financial services partner for individuals and businesses in the UAE, as well as BNY’s global expertise. Mellon as the world’s largest custodian to create a win-win proposition for regional and overseas investors.

BNY Mellon and Emirates NBD will work together to increase access for international investors to the dynamic UAE market through digitalization. The UAE is currently experiencing an expansion in capital markets with multiple new listings and a significant increase in market liquidity on both the Dubai Financial Market and the Abu Dhabi Stock Exchange.

Akash ShahChief Growth Officer at BNY Mellon, said: “Emirates NBD’s regional excellence, combined with our global expertise, will transform our collective customer experience. This comes at an opportune time, with a number of local champions hitting the market thanks to the UAE IPO boom. , we will help create the infrastructure needed to capture long-term value from the UAE financial ecosystem, increase operational efficiency and investor access. »

Ahmed Al QassimGroup 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 access to the global market. In addition, foreign investors can now take advantage of the exciting opportunities created by the upcoming UAE IPOs, strengthening the investor base and liquidity of 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 management and ancillary services, corporate trust services and Treasury.

Emirates NBD Group offers its corporate, government and institutional customers 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 investment firm dedicated to helping clients manage and nurture their financial assets throughout the investment lifecycle. Whether providing financial services to institutions, corporations or individual investors, BNY Mellon provides informed investment and wealth management and investment services in 35 countries. From March 31, 2022BNY Mellon had $45.5 trillion in assets in custody and/or under administration, and $2.3 trillion in assets under management. BNY Mellon can serve as a single point of contact for clients seeking to originate, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the trademark of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available at 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 one of the leading banking groups in the MENAT (Middle East, North Africa and Turkey) with a presence in 13 countries, serving more than 14 million customers. Like a March 31, 2022total assets were AED694 billion (equivalent to approx. $189 billion). The Group is present in the United Arab Emirates, Egypt, India, Turkeythe Kingdom of Saudi Arabia, Singaporethe UK, 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 offers its corporate, government and institutional customers 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 player in the global digital banking industry with 94% of all financial transactions and inquiries made outside of its branches. The Group also operates E20., a digital business bank for entrepreneurs and SMEs and Liv., the digital lifestyle bank for millennials. Emirates NBD actively participates in and supports key UAE development and sustainability initiatives, including financial literacy and disability inclusion. Emirates NBD Group is a Principal Partner and the Official Banking Partner of Expo 2020 Dubai.

Press contacts:

Garrett Marquis
+1 (949) 683-1503 (h)
[email protected]

Ibrahim Souaidan
Senior Vice President
Head – Group Corporate Affairs
United Arab Emirates
Telephone: +971 4 609 4113 / +971 50 6538937
Email: [email protected]

Tricia Kaul
Vice President, Financial Practice
asda’a bcw, dubaiWATER
Tel: 971-4-4507600
Email: [email protected]

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