Finance
First Abu Dhabi Bank Chooses Broadridge to Build Global Agency Securities Finance Business
Expansion of securities finance within the UAE and broader Middle East
NEW YORK and ABU DHABI, UAE and LONDON, Dec. 11, 2024 /PRNewswire/ — To drive expansion of Securities Lending in the UAE and wider Middle East, First Abu Dhabi Bank (FAB) has chosen global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE: BR), to support the build out of its global agency securities finance business. This collaboration marks a significant milestone in the expansion of securities finance within the UAE and the broader Middle East region. By leveraging Broadridge’s advanced Securities Finance and Collateral Management (SFCM) solution, FAB is well-positioned to enhance its coverage of global fixed income and equities markets.
“The commitment of both FAB and Broadridge to bring innovative products and solutions to market and to simplifying and innovating trading,” said Darren Crowther, Head of Securities Finance and Collateral Management, Broadridge. “This collaboration caters for the growing demand for securities lending and borrowing within the Middle East and is aligned both with local regulatory needs and with international best practices.”
Broadridge’s provision of an agile and robust SFCM platform — the first AWS SaaS deployment in the region — highlights a renewed focus on in the Middle East and indicates readiness to support FAB’s strategic goals. As FAB navigates the evolving landscape of securities borrowing and lending regulations in the region’s markets, this collaboration is expected to yield new opportunities and efficiencies that will benefit clients across the globe.
About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.
Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com.
Broadridge Contacts:
Investors:
Edings Thibault
Head of Investor Relations, Broadridge
[email protected]
Media:
Gregg Rosenberg
Global Head of Corporate Communications
[email protected]
SOURCE Broadridge Financial Solutions, Inc.
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+
Newsrooms &
Influencers
9k+
Digital Media
Outlets
270k+
Journalists
Opted In
US-based bank holding company First Financial Bancorp has completed its previously announced acquisition of Westfield Bancorp and its subsidiary, Westfield Bank.
In June, First Financial agreed to acquire Westfield Bancorp from Ohio Farmers Insurance Company in a cash-and-stock deal valued at $325m.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Find out more
With the addition of Westfield Bank, First Financial’s total assets now stand at $20.6bn, strengthening its presence in the Midwest region of the US.
The acquisition is said to expand First Financial’s commercial banking and wealth management services in Northeast Ohio.
Westfield Bank’s retail locations and related services will now operate as part of First Financial’s network.
These branches will retain their current branding until the completion of conversion process, which is expected to occur in March 2026.
The conversion will merge the two banks’ products, processes and operating systems.
Westfield Bank clients will continue to receive services through existing channels, and will receive information about account conversions in the coming months.
First Financial president and CEO Archie Brown said: “This is an exciting step in the growth of First Financial, as the addition of Westfield Bank opens new possibilities for growth and profitability for us in an attractive market.
“We can now bring our wide range of solutions in consumer, commercial, specialty lending and wealth management to new clients, while expanding our geographic footprint for our current clients.
“The First Financial team is thrilled to welcome the Westfield Bank team members to the First Financial family.”
The transaction follows First Financial’s recent expansion activities in the Midwest.
In 2023, the company established a commercial lending presence in Northeast Ohio.
Earlier this year, First Financial announced BankFinancial, the parent company of BankFinancial, National Association, in Chicago, Illinois.
Furthermore, the company has also established a commercial banking presence in Grand Rapids, Michigan.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Hezbollah and Hamas thrive on shadowy financial networks-charities, trade deals, crypto wallets. But every transaction leaves a trace and AI can spot the patterns no human ever could.
Finance
The New Hampshire Business Finance Authority honors lenders at the 5th annual Granite State Awards
San Francisco, CA8 minutes ago
San Francisco man found guilty of murder in brutal beating of elderly woman exercising
Dallas, TX13 minutes ago
A ‘shared calling’ unites team at Top Workplaces honoree First Baptist Dallas
Boston, MA33 minutes ago
Boston Police Blotter: Larceny, assault, drug possession
Denver, CO43 minutes ago
World-famous classic rock band announces Denver stop during upcoming tour
San Diego, CA1 hour ago
San Diego average gas prices increased from last week. Here’s how much
Florida1 year ago
Florida High School Football Rankings: Top 25 teams – Oct. 21
Oregon2 years ago
How old is Bo Nix? What to know about Oregon quarterback ahead of 2024 NFL Draft
Connecticut2 years ago
Cleary's 21 help Le Moyne down Central Connecticut State 69-64 in OT
Virginia1 year ago
99th annual Pony Swim held in Virginia
Education1 year ago
Video: ‘It Didn’t Have to Happen This Way:’ U.Va. Faculty Call for Review of Police Response to Protests
Politics13 hours ago
Over one month into government shutdown and no end in sight – but predictions run rampant
World15 hours ago
Two dead as Typhoon Kalmaegi brings massive flooding in central Philippines
News16 hours ago
Trump Backs Cuomo, Threatens NYC Funds If Mamdani Wins – The Source with Kaitlan Collins – Podcast on CNN Podcasts
News1 day ago
Video: The Nationwide Battle Over Electoral Maps
Politics1 day ago
Trump backs ICE raid tactics, says they ‘haven’t gone far enough’
-
Milwaukee, WI7 days agoLongtime anchor Shannon Sims is leaving Milwaukee’s WTMJ-TV (Channel 4)
-
News1 week agoWith food stamps set to dry up Nov. 1, SNAP recipients say they fear what’s next
-
Alabama1 week agoHow did former Alabama basketball star Mark Sears do in NBA debut with Milwaukee Bucks?
-
News1 week ago1 dead, 6 injured in shooting at Lincoln University homecoming festivities
-
Austin, TX1 week agoDia De Los Muertos Austin: Parades, Altars & Events
-
Culture1 week agoVideo: Tyler Mitchell Breaks Down Three Photos From His New Book
-
Culture6 days agoVideo: Dissecting Three Stephen King Adaptations
-
Seattle, WA2 days agoESPN scoop adds another intriguing name to Seahawks chatter before NFL trade deadline