State Street plans to open an operating center in Al Ain in 2027 — The National
U.S. financial company State Street plans to open an operating center in Al Ain, UAE, in late 2027 and hire 300 employees over three years. The new center will operate in technology, artificial intelligence, customer service and operations, supporting investors in Abu Dhabi and other regions.
State Street’s Head of Middle East and North Africa, Jack Keshishian, announced the company’s plans during the first Al Ain Future Business Forum. As The National reports, he called talent development one of the company’s key investment priorities.
Expanding presence in Abu Dhabi
State Street announced its intention to establish the center in January after signing an agreement with the Abu Dhabi Investment Office. At the time, the company said that more than 300 financial services jobs would be created over four years.
Keshishian said that when selecting Al Ain, the company considered the regulatory environment, legal certainty, transparency, data availability and the presence of qualified personnel. State Street is also working to upgrade its licence at Abu Dhabi Global Market to expand the range of services it can provide locally.
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The company has been present in Abu Dhabi since 2018 and has operated in the United Arab Emirates since the 1990s. It is also cooperating with Al Ain universities to create employment and internship opportunities for graduates.
Investment and jobs
Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, said that Al Ain has attracted more than 128.5 billion dirhams, or about $35 billion, in non-oil investment in recent years. This amount includes investment in transport, energy and manufacturing.
According to him, the authorities are also working to simplify conditions for establishing and developing small and medium-sized businesses in the region. Abu Dhabi Commercial Bank, for its part, plans to double the number of employees in Al Ain and expand the range of services for businesses of different sizes. The bank named manufacturing, food security, healthcare, aerospace and advanced technology among the promising sectors in the region.
