UAE-based First Abu Dhabi Bank (FAB) has signed a Memorandum of Understanding (MoU) with European asset management company Amundi to boost its investment management offerings across the Gulf Cooperation Council (GCC).
This collaboration will include a wide range of investment solutions across client segments, formats as well as asset classes.
Under the partnership, FAB and Amundi will combine their strengths and expertise to deliver financial solutions to investors in the GCC’s asset management sector.
Also, the partnership is said to support the investment solutions and services to all client segments, including private, retail banking and institutional investors.
First Abu Dhabi Bank Group CEO Hana Al Rostamani said: “Our strategic partnership with Amundi is a key moment in FAB’s journey to advance 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.
“This partnership demonstrates our commitment to delivering greater value, deepening client relationships, and supporting the UAE’s ambitions as a regional and global financial hub.”
This is Amundi’s first partnership in the UAE and is expected to support the company’s strategy to grow its presence in markets with high potential, such as the Middle East.
In a separate development, UK-based digital wealth management platform Moneybox has partnered with Amundi to launch three investment funds aimed at pension customers.
The collaboration will combine Moneybox’s customer-led product design with Amundi’s experience in multi-asset and exchange-traded fund (ETF) management.
The funds are designed for pension customers seeking investment options that vary in risk and return, based on their retirement planning needs.
Last month, Amundi acquired a 4.6% stake in private equity investment firm ICG and entered a long-term partnership to expand private markets access for wealth clients.
“FAB signs MoU with Amundi to boost investment offerings in GCC ” was originally created and published by Private Banker International, a GlobalData owned brand.
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