BNY Mellon opens office in the Abu Dhabi Global Market

The global custodian opens new office in Abu Dhabi's financial centre for local, regional and international institutions.

By Jonathan Watkins

BNY Mellon has opened a representative office in the Abu Dhabi Global Market (ADGM) in a bid to provide support for existing and prospective clients in the Middle East.

The US-headquartered global custodian has been in Abu Dhabi since 1998 and has been conducting business in the Middle East and Africa for over 100 years.

ADGM is the international financial centre for local, regional and international institutions in Abu Dhabi.

BNY Mellon was granted a branch licence in 2008 by the Dubai Financial Services Authority.

“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,” said Hani Kablawi, chairman, EMEA, and CEO of Global Asset Servicing.

Anthony Habis will be the principal representative for BNY Mellon’s new ADGM office and is head of client management, Middle East and Africa (MEA) and regional head for MEA at BNY Mellon.

Habis joined BNY Mellon from RF Capital Trust in 2018 and has over 20 years’ experience working in MEA, including six years at Citi where he held a number of senior roles as managing director in the institutional clients group.

“We welcome The Bank of New York Mellon to the family and for choosing ADGM to establish its representative office,” said Richard Teng, chief executive officer of the Financial Services Regulatory Authority.

“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.”