Maktoum bin Mohammed meets State Street Chairman and CEO as company plans UAE expansion

Dubai: His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, 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 His Highness 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 strengthening its world-class financial ecosystem, which enables international institutions to expand their operations, develop new capabilities and access opportunities across regional and global markets. 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 addressed State Street’s plans to expand its operations in the UAE, creating high-value opportunities for Emirati talent and strengthening local capabilities in technology, artificial intelligence, financial services and emerging areas of 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 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 30 September 2026, the company had $59.2 trillion in assets under custody and/or administration and $6.3 trillion in assets under management. State Street generated record annual revenue of approximately $14 billion in 2025, up more than 7% 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 presence in the UAE, including an investment management office in DIFC. The meeting was attended by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Malek Al Malek, Chairman of TECOM Group; His Excellency Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing; and Arif Amiri, Chief Executive Officer of the DIFC Authority.