State Street Global Advisors Expands Footprint in Dubai’s DIFC

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State Street Global Advisors, the asset management arm of State Street Corporation (NYSE: STT), has unveiled its latest venture with the inauguration of a new office in the Dubai International Financial Centre.

Previously, the regional asset management endeavors of State Street Global Advisors were overseen from Abu Dhabi. Now, these operations will be centralized in Dubai and Riyadh.

Concurrently, the broader State Street group is set to bolster its presence in Abu Dhabi, nearly doubling its workforce in the region. The focus will primarily be on investment servicing and the Alpha platform, State Street’s comprehensive multi-asset class front-to-back office and data business.

With over three decades of experience in the Middle East, State Street Global Advisors first established its local presence in 1992. The opening of the Dubai office marks its fourth location in the Middle East, alongside existing bases in Abu Dhabi, Riyadh, and Muscat

Emmanuel Laurina, Head of Middle East & Africa at State Street Global Advisors, emphasized the strategic value of their location strategy, enabling them to compete for talent, develop new capabilities, and continue nurturing longstanding client relationships.