Amundi has entered a strategic partnership with First Abu Dhabi Bank (FAB), as part of an effort to expand investment solutions across regions encompassed in the Gulf Cooperation Council (GCC).
The two firms have signed a Memorandum of Understanding, which will aim to deliver a broad variety of financial services across client segments, formats and asset classes across the GCC, through combining both FAB and Amundi’s expertise in these areas.
Specifically, the GCC consists of six Arab nations which collaborate economically and politically, spanning Bahrain, Kuwait, Oman, Qatar, Saudia Arabia and the United Arab Emirates (UAE).
Valérie Baudson, chief executive of Amundi, said: “As we see accelerating demand for various investment solutions across the Middle East, partnering with FAB, a leading financial institution, supports our ambition to deepen our presence and capture long-term growth in this high-potential market.”
Read more – First Abu Dhabi Bank taps Morgan Stanley for new trader
The partnership aligns with increasing demand for a wide variety of investment solutions in the region, and also marks a further development for Amundi as the asset manager looks to expand its footprint in markets in the Middle East.
Hana Al Rostamani, group chief executive at FAB, said: “Our strategic partnership with Amundi is a key moment in FAB’s journey to elevate our investment capabilities and bring best-in-class asset management solutions to our clients.
“By joining forces with one of the world’s leading asset managers, we are reinforcing FAB’s position as the UAE’s global bank and a partner of choice for clients seeking international expertise and tailored solutions.”