London
24 March 2015
Reporter: Stephen Durham

Calastone expands Middle East coverage


Calastone has been mandated by the National Bank of Abu Dhabi (NBAD) Global Asset Management to provide distribution and processing services via its global network.

This announcement marks the connection of Calastone’s first UAE client and further expansion into the Middle East, which it has earmarked as a globally significant region in providing both inward and outward distribution for its customers.

Julien Hammerson, CEO at Calastone, said: “It is a testimony to our standing in the market that NBAD have chosen to transact [its] orders over Calastone’s global network and we look forward to helping the bank reap the significant operational cost and risk reduction benefits that transaction automation can deliver and offer yet further international distribution.”

Saleem Khokhar, executive director and head of fund management and equities at NBAD, added: “As a top-tier financial institution, we are continually striving to offer our customers access to a range of financial products and services designed to suit their investment requirements.”

“Highly efficient and effective distribution and processing are key elements in providing excellent customer service, and we believe that being connected to Calastone’s global network will further help us achieve these important objectives.”

NBAD was Abu Dhabi’s first local bank and played a pioneering role in building the country’s financial system. Today, NBAD has one of the largest networks of branches and offices domestically in the UAE, and international offices in 18 countries.

More news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Pension fund mandate for BNP Paribas
21 September 2017 | London | Reporter: Jenna Lomax
The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement
IHS Markit names new COO for thinkFolio
21 September 2017 | London | Reporter: Jenna Lomax
Cunningham will lead thinkFolio’s product management, services, support and managed service offering
AcadiaSoft expands user base for IM compliance
21 September 2017 | Massachusetts | Reporter: Drew Nicol
The second phase of the IM rules went live on 1 September under the regulatory framework of BCBS and IOSCO
SIX: Speedy settlement key in collateral management
21 September 2017 | London | Reporter: Stephanie Palmer
Real-time settlement is the most important consideration when choosing a new collateral management provider, according to research from SIX Securities Services
FCA takes pragmatic approach to MiFID II deadline
21 September 2017 | London | Reporter: Drew Nicol
The UK’s financial conduct authority has indicated it will accept a soft roll out of the second Markets in Financial Instruments Directive in January
Trade Informatics releases Peer Analysis tool
20 September 2017 | New York | Reporter: Jenna Lomax
The new addition will provide asset managers with tools to analyse how they compete with other money managers
BNP Paribas becomes first French OTC Clearing member
20 September 2017 | Hong Kong | Reporter: Barney Dixon
BNP Paribas has joined OTC Clearing Hong Kong, as the clearinghouse’s 17th member, and the first from France
More news