State Street Signs Agreement with Abu Dhabi Investment Office to Establish New Operations Center in Al Ain
State Street, the global leader in financial services for institutional investors and listed on the New York Stock Exchange under the ticker (STT), has announced the signing of an agreement with the Abu Dhabi Investment Office (ADIO) to establish a new operations center in the city of Al Ain, Emirate of Abu Dhabi.
The partnership represents a key milestone in State Street’s long-term expansion strategy in the UAE and the wider region, while reinforcing its role as a strategic partner within the Abu Dhabi Global Market (ADGM) ecosystem.
Under the agreement, the new operations center is expected to create more than 300 new jobs in the financial services sector over the next four years, offering high-quality career pathways for Emirati talent.
State Street will also collaborate with local universities to provide employment and training opportunities for graduates, in addition to delivering specialized training programs and workshops aimed at enhancing youth skills. This initiative aligns with Abu Dhabi’s priority to build a knowledge-based, globally competitive economy.
The partnership falls under the Financial Infrastructure Development and Enablement (FIDA) cluster led by ADIO, which aims to develop an integrated financial and investment ecosystem combining innovation with advanced digital and financial technologies. By 2045, the cluster is expected to contribute AED 56 billion to Abu Dhabi’s GDP and attract investments of no less than AED 17 billion, supporting the Emirate’s economic diversification efforts.
Commenting on the agreement, Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development and Chairman of ADGM, said the expansion reflects global investors’ confidence in Abu Dhabi’s business ecosystem and underscores the importance of long-term partnerships focused on human capital development and future readiness.
Ron O’Hanley, Chairman and CEO of State Street, emphasized that the company’s strategy centers on serving clients where they operate, reaffirming its commitment to expanding in Abu Dhabi and ADGM, and highlighting Al Ain as a strategic priority for future growth.