Latest news with #HaniKablawi
Yahoo
03-05-2025
- Business
- Yahoo
BNY secures licence for regional headquarters in Saudi Arabia
The Bank of New York Mellon (BNY) has obtained a regional headquarters (RHQ) licence from the Ministry of Investments in Saudi Arabia (MISA). In a statement, the company said that this new regional headquarters, located in Riyadh, will facilitate its strategic, administrative, and corporate services across the Middle East region. BNY has been providing asset servicing solutions in Saudi Arabia, which include global custody services, global risk solutions, custody FX, and institutional accounting. All these services are offered under a 'Capital Markets Authority' licence. The company has maintained a presence in Saudi Arabia for several decades, collaborating with clients in the region, including the UAE, Kuwait, Qatar, Bahrain, and Oman. BNY International head Hani Kablawi said: 'The Kingdom of Saudi Arabia is delivering on its Vision 2030, and we will continue to bring BNY's expertise across the financial lifecycle to help the KSA achieve its ambitions. 'Today's announcement underscores the strategic importance of the Middle East in BNY's international growth plans and our commitment to being an enduring partner to our clients across the region.' Currently, BNY Mellon serves over 90% of Fortune 100 companies and almost all of the top 100 banks worldwide. As of 31 March 2025, BNY Mellon had $53.1tn in assets under custody and/or administration and $2tn in assets under management (AUM). In September 2024, BNY launched Alts BridgeSM, a comprehensive solution that combines data, software, and services. The aim is to cater to the demand from wealth intermediaries seeking streamlined access to alternative and private market investments. "BNY secures licence for regional headquarters in Saudi Arabia" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
01-05-2025
- Business
- Zawya
BNY obtains regional headquarters license in the Kingdom of Saudi Arabia
RIYADH – The Bank of New York Mellon Corporation ('BNY') (NYSE: BK), a global financial services company, today announced it has been granted a regional headquarters ('RHQ') license by the Ministry of Investments in Saudi Arabia ('MISA'). The RHQ in Riyadh will provide strategic, administrative and corporate services for BNY in the Middle East. BNY's existing Asset Servicing solutions delivered for clients in the Kingdom of Saudi Arabia ('KSA') include Global Custody Services, Global Risk Solutions, Custody FX, and Institutional Accounting under a Capital Markets Authority license. 'The Kingdom of Saudi Arabia is delivering on its Vision 2030, and we will continue to bring BNY's expertise across the financial lifecycle to help the KSA achieve its ambitions,' said Hani Kablawi, Head of International at BNY. 'Today's announcement underscores the strategic importance of the Middle East in BNY's international growth plans and our commitment to being an enduring partner to our clients across the region.' BNY has a decades-long presence working with clients in Saudi Arabia, UAE, Kuwait, Qatar, Bahrain and Oman, providing access to global markets, building and delivering local markets infrastructure capabilities and supporting the development of the Gulf Cooperation Council's capital markets landscape. About BNY BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals, and so much more. As of March 31, 2025, BNY oversees $53.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management. BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on
Zawya
08-04-2025
- Business
- Zawya
Sohar International agrees strategic relationship with BNY to boost Oman's capital markets ecosystem
Muscat: Sohar International, in its commitment to fostering a dynamic and robust financial ecosystem in Oman, has announced a strategic relationship with The Bank of New York Mellon Corporation ('BNY'), a global financial services company, to enhance its custody offering for clients in Oman. As part of its broader vision to drive innovation and strengthen the country's financial infrastructure, this relationship reinforces Sohar International's role as a key enabler of capital market development and investment growth, aligning with Oman's Vision 2040 aspirations. Commenting on the relationship, Mr. Abdulwahid Al Murshidi, Chief Executive Officer of Sohar International, said: 'At Sohar International, we are dedicated to advancing Oman's financial sector by offering cutting-edge investment banking solutions tailored to our clients' evolving needs. This relationship with BNY represents a significant milestone in enhancing our custody and asset servicing capabilities. By integrating BNY's world-class infrastructure and expertise, we can provide seamless access to international markets, empowering clients to optimize their investments and navigate an increasingly complex financial landscape. This commitment underscores our unwavering focus on innovation and excellence while reinforcing Oman's position as an emerging hub for capital market growth. We look forward to working closely with BNY to deliver market-leading financial solutions to investors and institutions in Oman.' By leveraging BNY's financial services platforms, infrastructure, and global expertise, Sohar International will broaden its custody offering, further cementing its position as a key player in the investment banking sector. With decades of experience in the Middle East, BNY has played a pivotal role in fostering financial growth, facilitating access to global markets, and supporting the evolution of capital markets within the GCC. This relationship unites Sohar International's regional expertise and BNY's global capabilities, strengthening Oman's financial landscape and expanding investment opportunities for institutions in the region. 'Building on our rich heritage in the Middle East, we are thrilled to deepen our relationship with Sohar International and support the growth of Oman's capital markets,' adds Hani Kablawi, Head of International, BNY. 'Sohar International is a trusted partner in Oman's economic advancement bringing a wealth of experience in the nation's financial ecosystem. Bringing together Sohar International's local and regional expertise in banking with BNY's global platform capabilities will enable us to evolve our collective offering and help leading institutions in Oman to continue driving growth.' Sohar International remains steadfast in its mission to enhance Oman's financial services sector by introducing innovative solutions, expanding investment capabilities, and fostering a more sophisticated capital market environment. Through strategic collaborations, cutting-edge digital advancements, and customer-centric financial solutions, Sohar International continues to drive economic growth and position Oman as an emerging hub for financial excellence. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Arabian Business
21-03-2025
- Business
- Arabian Business
Lunate partners with BNY, SS&C to support UAE's Ghaf Benefits end-of-service scheme
Lunate Capital (Lunate), an Abu Dhabi-based global investment manager, announced a strategic engagement with industry-leading service providers to support the operations of its alternative end-of-service benefits fund platform, Ghaf Benefits. The service providers with which Lunate will collaborate include BNY, the world's largest custodian overseeing more than $50 trillion in assets, and SS&C Technologies (SS&C), a global provider of critical technology and services for the financial services industry. Strategic partnerships enhance Ghaf Benefits Seif Fikry, Managing Partner at Lunate, said the strategic engagements reflect the firm's commitment to leverage the expertise of industry leaders with proven capabilities in managing large-scale pension platforms and providing world-class financial advisory services. 'This engagement will enable Ghaf Benefits to seamlessly integrate cutting-edge technologies with deep investment expertise, supporting the UAE's vision of a more attractive and rewarding work environment,' he said. Hani Kablawi, Head of International, BNY, said their company is delighted to provide custody services for its new end-of-service benefits scheme in the UAE in collaboration with Lunate Capital. Nick Wright, Global Head of Global Investor and Distribution Solutions at SS&C, said the end-of-service benefits market represents a key growth opportunity in the UAE – a market the company is dedicated to investing in. BNY, in its role as the sub-custodian, will provide custody services for international securities across multiple markets, drawing on its extensive experience serving major global pension funds. SS&C, a trusted service provider to more than 22,000 financial services and healthcare companies worldwide, has been appointed by Lunate as an administrative services and primary technology provider. The firm is responsible for managing the platform's technological infrastructure and bilingual call centre operations. The Ghaf Benefits provides enhanced workplace benefits for private sector employers and employees in the UAE. It offers a choice of six investment funds, including both conventional and Shariah-compliant options. Among the UAE's first digitalised end-of-service benefits platforms, Ghaf Benefits offers innovative features such as an automated asset allocation system for member contributions and the flexibility to allocate past and future contributions across multiple funds through an intuitive employee portal. The platform will streamline gratuity management for employers through digital onboarding, automated contribution processing, and comprehensive compliance support.
Zawya
20-03-2025
- Business
- Zawya
Lunate appoints industry-leading service providers to help power Ghaf Benefits platform
Ghaf Benefits combines advanced technology, institutional expertise, and diverse investment options to empower employers and employees Abu Dhabi – Lunate Capital LLC ('Lunate'), an Abu Dhabi-based global investment manager, today announced a strategic engagement with industry-leading service providers to support the operations of its Alternative End-of-Service Benefits fund platform, Ghaf Benefits ('Platform'). These include BNY, the world's largest custodian overseeing more than $50 trillion in assets, and SS&C Technologies ('SS&C'), a global provider of critical technology and services for the financial services industry. Ghaf Benefits is an Alternative End-of-Service Benefits fund platform dedicated to enhancing workplace benefits for private sector employers and employees in the UAE, offering a choice of six investment funds, including both conventional and Shariah-compliant options. As the designated Fund Manager and Administrator, Lunate has appointed specialized service providers to enhance the Platform's operational efficiency and to provide advanced technology solutions. Ghaf Benefits is among the UAE's first digitalised end-of-service benefits platforms, offering innovative features such as an automated asset allocation system for member contributions and the flexibility to allocate past and future contributions across multiple funds through an intuitive employee portal. The Platform will streamline gratuity management for employers through digital onboarding, automated contribution processing, and comprehensive compliance support. For employees, the Platform provides real-time contribution tracking, access to a diversified range of investment options, and a user-friendly portal. Through the Platform, employers and employees will benefit from institutional-grade fund management, professional administration services, and robust security measures that are provided by Lunate with support from these global service providers. Seif Fikry, Managing Partner at Lunate, commented, 'We are proud of our engagement with globally renowned service providers such as BNY and SS&C to bring Ghaf Benefits to life. These strategic engagements reflect our commitment to leverage the expertise of industry leaders with proven capabilities in managing large-scale pension platforms and providing world-class financial advisory services. This engagement will enable Ghaf Benefits to seamlessly integrate cutting-edge technologies with deep investment expertise, supporting the UAE's vision of a more attractive and rewarding work environment. Together, we are transforming end-of-service benefits in the region — simplifying benefits management for employers while creating opportunities for employees to build long-term financial security.' Hani Kablawi, Head of International, BNY, said: 'In collaboration with Lunate Capital, BNY is delighted to provide custody services for its new End-of-Service Benefits scheme in the UAE.' Nick Wright, Global Head of Global Investor & Distribution Solutions at SS&C, said: 'We are thrilled to partner with Lunate to launch Ghaf Benefits. The End-of-Service Benefits market represents a key growth opportunity in the UAE, a market we are dedicated to investing in. We look forward to working with Lunate to provide private sector employers and employees with access to this new benefits scheme through our exceptional service and leading-edge technology.' BNY, in its role as the sub-custodian, will provide custody services for international securities across multiple markets, drawing on its extensive experience serving major global pension funds. SS&C, a trusted service provider to more than 22,000 financial services and healthcare companies worldwide, has been appointed by Lunate as Administrative Services and Primary Technology Provider. The firm is responsible for managing the Platform's technological infrastructure and bilingual call center operations. SS&C has experience in administrating large-scale plans across multiple geographies. Reflecting the growing interest in Ghaf Benefits from leading organizations, Lunate has entered into Memorandums of Understanding (MoUs) with ADQ, a sovereign investor with a focus on critical infrastructure and global supply chains, and International Holding Company (IHC), the most valuable holding company in the Middle East and one of the world's largest investment companies with over 1,200 subsidiaries, to explore the enrolment of their employees and those of IHC's subsidiaries in the Platform. The UAE's Alternative End-of-Service Benefits Scheme was first approved by a Cabinet Resolution in 2023 as a voluntary scheme designed to enhance financial security for UAE-based employees. For more information, employees and employers can reach out to eosb@ or visit
