Abu Dhabi Commercial Bank (ADCB) and Bank of America Merrill Lynch (BofA Merrill) have formed a relationship in the United Arab Emirates (UAE). It allows BofA Merrill clients requiring services in the region access to the capabilities provided by ADCB and for ADCB clients to access BofA Merrill’s global network of corporate banking and cash management capabilities.
At the core of the relationship is the establishment of a steering committee, comprising senior bankers from both organisations. This group is tasked with developing global working relationships and sharing opportunities.
Ala’a Eraiqat, chief executive officer (CEO) and ADCB board member, said: “Today is an important day for the UAE banking sector. It brings together our bank’s extensive network in the UAE, our product suite and service excellence with the global reach of Bank of America Merrill Lynch – a truly win-win partnership. We look forward to working with Bank of America Merrill Lynch to provide their valued clients with world-class products and services.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.