First Abu Dhabi Bank (FAB) launched MENASSA (MENA Securities Services for Asset Managers), a new post-trade platform designed specifically for MENA-based asset managers.
The platform is to introduce new levels of sophistication for securities services in the region.
It incorporates a suite of world-class modular services delivered from a single platform, including Global Custody, Fund Accounting, Transfer Agency, Performance and Risk Measurement, and Middle Office Services, fully integrated with FAB’s leading capital markets and investment banking capabilities.
FAB’s new platform addresses regulatory complexities
FAB’s new platform is designed to navigate global regulatory complexities that impact investment flows.
With the new platform, FAB focuses on the region-specific requirements of the growing asset and wealth management sectors.
What sets it apart is the world-class component products it offers, supported by client service and fund regulatory experts based in the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman, who deliver the service in line with local regulatory and operating requirements.
Markets in the Middle East are expected to outpace the North American, Asia-Pacific, and European regions in assets under management (AuM) growth, despite regional regulatory complexities, as assets and wealth management (AWM) organisations seek new markets, according to PricewaterhouseCoopers’ (PwC) 2023 Global Asset and Wealth Management survey and 2027 projections.
PwC forecasts global AuM to reach a base case of $147 trillion by 2027, representing a compound annual growth rate of 5 percent.
The report projects growth rates in Asia-Pacific to be roughly 50 percent higher than in North America by 2027, while previously slow industry expansion in the Middle East would also be expected to pick up.
Martin Tricaud, Group Head of Investment Banking, FAB, said the bank’s move aligns with the government’s vision to establish the UAE as a global finance hub and gateway to regional trade.
“The launch of MENASSA will enable FAB to provide an innovative, full-service, all-encompassing platform enriched with invaluable regional expertise tailored to support asset managers, as the region’s investment sector evolves,” he said.
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