The Bank of New York Mellon (BNY Mellon) has opened a representative office at Abu Dhabi Global Market (ADGM) to provide support for existing and prospective clients in the region, seeking access to the firm’s global capabilities.

BNY Mellon has been in Abu Dhabi since 1998 and has been conducting business in the Middle East and Africa (MEA) region for over 100 years. The bank opened its first representative office in Lebanon in 1963 and was granted a branch licence in 2008 by the Dubai Financial Services Authority.

BNY Mellon works with a wide range of sovereign wealth funds, financial institutions, governments and other clients throughout the region, offering asset servicing and ancillary services, corporate trust and treasury services.

On the new office, Hani Kablawi, Chairman of EMEA and CEO of Global Asset Servicing, said: "Our new office in the ADGM comes at an important time in our 100-year history in the region and more than 20 years in Abu Dhabi."

"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," he noted.

ADGM (Financial Services Regulatory Authority) CEO Richard Teng said: "We welcome the BNNY Mellon to the family and for choosing ADGM to establish its representative office."

"As an International Financial Centre and financial regulator, we look forward to working closely with BNY Mellon and like-minded institutions to foster an open and vibrant environment that augments Abu Dhabi’s position as a leading global financial centre and investment hub," he added.-TradeArabia News Service