State Street (STT) announced that it has signed a support agreement with the Abu Dhabi Investment Office, or ADIO, to establish a new operating center in the Al Ain region, Abu Dhabi. As part of its long-term growth plan in Abu Dhabi and aligning to State Street’s global clients’ increasing presence in Abu Dhabi, the new operating hub will create more than 300 financial services roles over the next four years, State Street said, adding that it will collaborate with local universities to create career and internship opportunities for graduates, as well as organize training and seminars to help develop the next generation of local young talent. In addition to its collaboration with ADIO and role as a strategic partner to Abu Dhabi, State Street intends to upgrade its ADGM license.
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