DUBAI, 1st November, 2026 (WAM) — H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of the Dubai International Financial Centre (DIFC), met with Ronald P. O’Hanley, Chairman and Chief Executive Officer of State Street Corporation, one of the world’s leading providers of financial services to institutional investors.
The meeting was also attended by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, and Chairman and Chief Executive of Emirates Airline and Group.
Sheikh Maktoum bin Mohammed highlighted the UAE’s continued investment in further strengthening its world-class financial ecosystem that enables international institutions to expand their operations, develop new capabilities and access opportunities across regional and global markets.
The discussions also covered the role of the country’s advanced infrastructure, business-enabling services, progressive regulatory environment and growing pool of specialised talent in supporting the long-term growth of global financial institutions.
The meeting also discussed State Street’s plans to expand its operations in the UAE, offering high-value opportunities for Emirati talent and strengthening local capabilities in technology, artificial intelligence, financial services and emerging sectors in the industry.
The two sides also explored opportunities for greater collaboration in investment management, financial technology and capital markets, including areas where emerging technologies are reshaping financial services.
Discussions also touched on Dubai’s efforts to deepen its capital markets, broaden investment opportunities and strengthen connections between global capital and regional businesses. These priorities form part of the Dubai Economic Agenda, D33, which seeks to establish the emirate among the world’s top four global financial centres.
With a history spanning more than 230 years, State Street Corporation provides a range of financial services to institutional investors, including investment servicing, investment management, research and trading. As of 30th September 2026, the company had $59.2 trillion in assets under custody and/or administration and $6.3 trillion in assets under management. It generated record annual revenue of approximately $14 billion in 2025, up more than 7 percent year-on-year.
Its investment management arm, State Street Investment Management, is the world’s fourth-largest asset manager. State Street operates in more than 100 markets and employs approximately 51,000 people worldwide. It has an established UAE presence, including an investment management office in DIFC.
The meeting was attended by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; Malek Al Malek, Chairman of TECOM Group; Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing; and Arif Amiri, Chief Executive Officer of the DIFC Authority.
Source: Emirates News Agency
