ADIO And State Street Establish Al Ain Operations Centre Creating 300 Plus Jobs

A new agreement between Abu Dhabi Investment Office and State Street Corporation will see a major operations centre established in Al Ain Region, with H.H. Sheikh Hazza bin Zayed Al Nahyan witnessing the signing. The project supports Abu Dhabi’s economic strategy and strengthens the emirate’s position as a growing financial hub.

Over the next four years, the operations centre is expected to generate more than 300 specialised financial services roles in Al Ain Region. These jobs are planned to create structured career paths for Emirati professionals and residents, supporting both skills development and long-term employment within the UAE’s financial sector.

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The initiative is integrated into Abu Dhabi Investment Office’s FinTech, Insurance, Digital and Alternative Assets cluster, known as FIDA. The cluster aims to build export-focused financial capabilities and a modern financial services ecosystem. It is designed to back Abu Dhabi’s goal of long-term economic diversification and knowledge-based growth.

According to projections, the FIDA cluster could add AED56 billion to Abu Dhabi’s gross domestic product by 2045 and attract at least AED17 billion in investments. These targets align with the emirate’s wider economic plans, which seek to broaden sources of income beyond traditional sectors and attract high-value global capital.

State Street plans to work closely with universities in Al Ain Region and across Abu Dhabi. The company will coordinate internships, entry-level roles, training schemes and seminars. These programmes aim to prepare students and graduates for careers in financial services and support the emirate’s ambition for a globally competitive, knowledge-based workforce.

H.H. Sheikh Hazza bin Zayed Al Nahyan stresses that attracting high-value investments and building strategic relationships with leading international economic and financial institutions is central to Abu Dhabi’s development agenda. H.H. Sheikh Hazza bin Zayed notes that these efforts are intended to deepen the emirate’s role in regional and global financial markets.

Abu Dhabi State Street partnership and economic competitiveness

H.H. Sheikh Hazza bin Zayed highlights the need to direct such investments towards sustainable economic growth and high-quality employment for Emirati talent. H.H. Sheikh Hazza bin Zayed also emphasises empowering national cadres and increasing the competitiveness of Abu Dhabi and Al Ain Region in key economic sectors across both regional and international levels.

The signing ceremony and associated meetings were attended by Sheikh Mohammed bin Hamdan bin Zayed Al Nahyan, alongside senior Abu Dhabi officials. These included Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development and Chairman of Abu Dhabi Global Market, as well as Badr Salim Al Olama, Director-General of Abu Dhabi Investment Office.

The agreement itself was signed by Badr Salim Al Olama on behalf of Abu Dhabi Investment Office and Ron O’Hanley on behalf of State Street. It represents a new phase in State Street’s long-term strategy for the UAE and the wider region, reinforcing the firm’s position as a strategic participant within the Abu Dhabi Global Market ecosystem.

Ahmed Jasim Al Zaabi, said, "State Street’s expansion into Al Ain Region reflects the type of long-term, capacity-building partnership that supports Abu Dhabi’s economic development agenda across the emirate, aligned with the priorities of the Falcon Economy." The comment links the project directly to Abu Dhabi’s current economic policy priorities.

State Street CEO and Chairman Ron O’Hanley, said, "Our strategy is to meet our clients where they are going. We are committed to investing in the growth of our UAE business and expanding our presence in Abu Dhabi and the ADGM. Abu Dhabi, including Al Ain Region, 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."

On the sidelines of the signing, H.H. Sheikh Hazza bin Zayed met Ron O’Hanley to review cooperation opportunities. Discussions covered State Street’s expansion in Al Ain Region and ways to enhance financial and investment services partnerships. The talks also addressed how the new presence could increase the region’s appeal to international investors.

State Street Corporation has operated in Abu Dhabi since 2018 via Abu Dhabi Global Market, from which it serves institutional clients across the region. The new Al Ain Region operations centre, tied to the FIDA cluster and wider diversification plans, is expected to deepen that presence and add further capacity to the emirate’s financial services sector.

With inputs from WAM