Abu Dhabi, UAEFriday 17 January 2020

Bank of New York Mellon opens ADGM representative office

The global investment company has been in Abu Dhabi since 1998 and has conducted business in the Middle East and Africa for more than 100 years

Abu Dhabi-based Group 42 has acquired Bayanat - a mapping company that is also based in the emirate that was born out of the UAE's Military Survey Department. Alamy
Abu Dhabi-based Group 42 has acquired Bayanat - a mapping company that is also based in the emirate that was born out of the UAE's Military Survey Department. Alamy

The Bank of New York Mellon, a global investment company, has opened a representative office in the Abu Dhabi Global Market to expand its operations in the region.

BNY Mellon has been in Abu Dhabi since 1998 and has conducted business in the Middle East and Africa for more than 100 years. It opened its first regional representative office in Lebanon in 1963 and was also granted a branch licence in 2008 by the Dubai Financial Services Authority.

“Our new office in the Abu Dhabi Global Market comes at an important time in our 100-year history in the region and more than 20 years in Abu Dhabi,” said Hani Kablawi, chairman of Europe, Middle East and Africa region, and chief executive of global asset servicing at the company.

"Our focus to deepen our relationships with Middle Eastern institutional investors, strengthen our footprint, and drive to innovate and to deliver leading solutions across the region has never been greater.”

The company works with a wide range clients including sovereign wealth funds, financial institutions and government entities throughout the region, offering asset servicing and ancillary services, corporate trust and treasury services.

Anthony Habis will be the principal representative for BNY Mellon’s new ADGM office and regional head for MEA at BNY Mellon. Mr Habis joined BNY Mellon from RF Capital Trust in 2018 and has more than 20 years of experience working in the region, including six years at Citi, where he held a number of senior roles.

As of September 30, BNY Mellon had $35.8 trillion (Dh131.4tn) in assets under custody, and $1.9tn assets under management.

Updated: December 22, 2019 06:26 PM

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