State Street, one of the world's largest financial services groups serving institutional investors, has announced it will open a new operating centre in Al Ain, Abu Dhabi. The centre is set to begin operations by the end of 2027.
The company said the facility will focus on technology, artificial intelligence, client services and operations, supporting investors in Abu Dhabi and beyond. Jack Keshishian, State Street's head of Middle East and North Africa, said the firm will hire 300 employees over three years as it opens the centre, calling talent one of its key investment priorities.
Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, said Al Ain plays an integral role in Abu Dhabi's economic ambitions, and that the investment's value should be measured by the opportunities it creates for the people of Al Ain. Abdulla Al Shamsi, group chief business officer at ADCB, said the bank plans to double its Al Ain workforce across all its banking services. Al Ain has attracted more than Dh128.5 billion (about $35 billion) in non-oil investment across sectors including transport, energy and manufacturing, underscoring the city's growing status as an investment destination within Abu Dhabi.