State Street to create 300+ jobs in Al Ain with ADIO partnership

State Street and the Abu Dhabi Investment Office (ADIO) will open an Al Ain operations hub expected to create more than 300 jobs. The hub is part of ADIO's FIDA cluster, which is projected to add AED56 billion to Abu Dhabi's GDP and attract at least AED17 billion in investment by 2045.

State Street is opening an operations hub in the Al Ain region in collaboration with the Abu Dhabi Investment Office (ADIO), with the move expected to create more than 300 jobs. The hub is being added as part of ADIO's FinTech, Insurance, Digital and Alternative Assets (FIDA) cluster, a platform intended to develop high-value, exportable financial capabilities. ADIO projects the FIDA cluster will contribute AED56 billion to Abu Dhabi's GDP and attract at least AED17 billion in investment by 2045. State Street has been active in Abu Dhabi since 2018 through the Abu Dhabi Global Market (ADGM), and officials describe the Al Ain hub as an expansion of that commitment. Key points: - State Street and ADIO will open an Al Ain operations hub expected to create more than 300 jobs. - The hub forms part of ADIO's FIDA cluster covering FinTech, insurance, digital and alternative assets. - ADIO projects the FIDA cluster could add AED56 billion to Abu Dhabi's GDP and attract at least AED17 billion in investment by 2045. - Officials said the initiative aims to create employment opportunities for UAE nationals and support talent development in the Al Ain region. - State Street has been present in Abu Dhabi since 2018 via ADGM and continues to serve institutional clients in the region. Summary: The announcement reflects an expansion of State Street's on-the-ground operations in Abu Dhabi and a focus on building specialised financial-sector talent in Al Ain. Undetermined at this time.