Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) has entered into a new strategic alliance with State Street Corporation, listed on the New York Stock Exchange (NYSE), to create a new service model for institutional investors in the Middle East and North Africa.

Under the strategic alliance, MENA investors will be enabled to reach more than 100 markets around the world and benefit from various products servicing all listed and unlisted asset classes, according to a press release on Monday.

The investors will also have access to in-country client service teams in the UAE, Saudi Arabia, Kuwait, Oman, Bahrain, and Egypt.

In addition, clients will be provided with State Street’s extensive data management and analytics solutions, which integrate with FAB’s regional securities services and products, local expertise, and direct custody network.

The Group CEO of FAB, Hana Al Rostamani, said: "The alliance between FAB and State Street creates a unique platform, delivering leading capabilities across the entire investment value chain that cater for the characteristics of regional and global investments."

Meanwhile, the Chairman and CEO of State Street, Ron O’Hanley, added: "By leveraging the best of both global and regional expertise offered by the collaboration of our two organisations, we will provide a truly customised and flexible service model that proactively drives innovative solutions to meet our clients’ needs."