To enhance the growth of capital markets in the UAE, the US-based investment bank BNY Mellon entered into a partnership with Emirates NBD.
Under the collaboration, BNY Mellon’s global footprint will be combined with Emirates NBD’s regional expertise to provide capital markets infrastructure and technology to clients across the UAE and worldwide.
The two companies will work together on digitisation to provide international investors with increased access to the UAE market.
Emirates NBD Group corporate and institutional banking head Ahmed Al Qassim 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.”
UAE is currently experiencing an expansion of capital markets with new listings in both Dubai Financial Market and Abu Dhabi Securities Exchange, said both companies.
The collaboration with BNY Mellon will enhance its on-ground strengths, and reach and strengthens its position as a financial services partner in the UAE, said Emirates NBD.
BNY Mellon chief growth officer Akash Shah said: “Emirates NBD’s regional excellence together with our global expertise will transform our collective client experience.
“It comes at an opportune moment, with several 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.”
BNY Mellon offers asset servicing and ancillary services, corporate trust and treasury services to sovereign wealth funds, financial institutions, governments, and other clients.