State Street and ADIO launch Al Ain operations hub
28 January 2026 UAE
Image: OlegZhukov/stock.adobe.com
State Street Corporation, a provider of financial services to institutional investors, has signed a support agreement with the Abu Dhabi Investment Office (ADIO) to establish a new operating center in the Al Ain region, Abu Dhabi.
The firm says the collaboration marks a step in its long-term expansion strategy in the Middle East and United Arab Emirates (UAE), and reinforces its role as a strategic partner within the Abu Dhabi Global Market (ADGM) ecosystem.
As part of its long-term growth plan in Abu Dhabi and aligning to State Street’s global clients’ increasing presence in Abu Dhabi, the new operating hub will create more than 300 financial services roles over the next four years, providing career pathways for local Emirati talent.
This collaboration also forms part of ADIO’s FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster, a platform to develop exportable financial capabilities and create a future-facing financial services ecosystem.
By 2045, the cluster is projected to contribute an additional 56 billion UAE dirham to Abu Dhabi’s gross domestic product (GDP) and attract at least AED17 billion in investment, aligned with the emirate’s wider economic diversification agenda.
In addition, State Street will collaborate with local universities to create career and internship opportunities for graduates, as well as organise training and seminars to help develop local young talent, aligning with Abu Dhabi’s priority to build a knowledge-based workforce.
Ron O’Hanley, chairman and CEO of State Street, remarks: “Abu Dhabi, including Al Ain, is a strategic priority for State Street, and we believe our experience in global financial centres can support the emirate’s continued development as an important global financial hub. The combination of strong local talent and our global expertise positions State Street as a trusted partner to both local and international institutions.”
Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Department of Economic Development and Abu Dhabi Global Market, notes: “We welcome this partnership and value State Street’s contribution to creating high-quality employment opportunities for UAE nationals, nurturing talent development in the Al Ain region, and upskilling future leaders for the financial sector.
“By anchoring investment, developing specialised financial talent and strengthening institutional capability, this initiative advances priority sectors while embedding sustainable, high-value opportunities for national talent across Abu Dhabi.”
The firm says the collaboration marks a step in its long-term expansion strategy in the Middle East and United Arab Emirates (UAE), and reinforces its role as a strategic partner within the Abu Dhabi Global Market (ADGM) ecosystem.
As part of its long-term growth plan in Abu Dhabi and aligning to State Street’s global clients’ increasing presence in Abu Dhabi, the new operating hub will create more than 300 financial services roles over the next four years, providing career pathways for local Emirati talent.
This collaboration also forms part of ADIO’s FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster, a platform to develop exportable financial capabilities and create a future-facing financial services ecosystem.
By 2045, the cluster is projected to contribute an additional 56 billion UAE dirham to Abu Dhabi’s gross domestic product (GDP) and attract at least AED17 billion in investment, aligned with the emirate’s wider economic diversification agenda.
In addition, State Street will collaborate with local universities to create career and internship opportunities for graduates, as well as organise training and seminars to help develop local young talent, aligning with Abu Dhabi’s priority to build a knowledge-based workforce.
Ron O’Hanley, chairman and CEO of State Street, remarks: “Abu Dhabi, including Al Ain, is a strategic priority for State Street, and we believe our experience in global financial centres can support the emirate’s continued development as an important global financial hub. The combination of strong local talent and our global expertise positions State Street as a trusted partner to both local and international institutions.”
Ahmed Jasim Al Zaabi, chairman of Abu Dhabi Department of Economic Development and Abu Dhabi Global Market, notes: “We welcome this partnership and value State Street’s contribution to creating high-quality employment opportunities for UAE nationals, nurturing talent development in the Al Ain region, and upskilling future leaders for the financial sector.
“By anchoring investment, developing specialised financial talent and strengthening institutional capability, this initiative advances priority sectors while embedding sustainable, high-value opportunities for national talent across Abu Dhabi.”
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