June 22, 2024

Maktoum bin Mohammed meets with President and CEO of State Street Global Advisors

 Maktoum bin Mohammed meets with President and CEO of State Street Global Advisors

State Street Global Advisors is one of the world’s largest asset managers with $4.13 trillion worth of assets under management.

Government of Dubai Media Office – 07 May 2024

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), today met with Yie-Hsin Hung, President and CEO of State Street Global Advisors, one of the world’s largest asset managers.

Welcoming Yie-Hsin Hung, His Highness congratulated her on the opening of State Street Global Advisors’ new office in Dubai. Sheikh Maktoum bin Mohammed underscored Dubai’s commitment to fostering robust international partnerships and enhancing the infrastructure and policies that support economic and financial industry growth. He said that the UAE and Dubai are dedicated to helping global financial service providers leverage the unique opportunities presented by the economic dynamism of the region, he added.

His Highness highlighted Dubai’s strategic initiatives aimed at enhancing the total volume of its stock markets to AED3 trillion by 2033 and deepening its capital market ecosystem, making it a prime destination for investors from across the world. By fostering an environment conducive to innovation and business growth, Dubai seeks to establish itself as the preferred global hub for financial companies, as part of the Dubai Economic Agenda D33’s goal to establish the city as one of the world’s top four financial centres.

His Highness and Yie-Hsin Hung, discussed the key themes of the two-day Dubai FinTech Summit, organised by DIFC, the leading global Financial Centre in the MEASA region, which opened yesterday. The event has brought together over 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges and showcase cutting-edge technologies. Sheikh Maktoum bin Mohammed said that the widespread global participation in the summit reflects Dubai’s growing position as a magnet for investment, talent and innovation in the FinTech sector.

The second edition of the Dubai FinTech Summit is designed to encourage cross-border collaboration and innovation, pivotal to transforming the global FinTech sector. The event presents a unique opportunity to explore emerging FinTech trends and their potential to drive financial progress in the MEASA region.

Yie-Hsin Hung lauded Dubai’s remarkable evolution into a major financial and business hub in the region. She said the establishment of State Street Global Advisors’ office in Dubai reflects the company’s commitment to expanding its presence in the rapidly growing region and exploring further opportunities in emerging and neighbouring markets.

The meeting was attended by His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs; His Excellency Essa Kazim, Governor of DIFC; and Arif Amiri, Chief Executive Officer of DIFC Authority.

With offices in 29 locations across the world and clients in 57 countries, State Street Global Advisors has $4.13 trillion worth of assets under management. The company launched the first US-based Exchange Traded Fund (ETF) three decades ago, which is currently the world’s largest ETF.