State Street and Qatar National Bank will introduce a new custody servicing model in Qatar.
Under this co-operation agreement, State Street and QNB Group have agreed to collaborate, with service agreements to be finalised and executed at a later date.
The agreement aligns with State Street’s ongoing expansion within the Gulf Cooperation Council (GCC) and supporting QNB’s international growth.
“The GCC is one of the fastest-growing markets globally, and we are committed to deepening our presence through collaboration with leading local institutions,” said Ron O’Hanley, chairman and CEO at State Street. “This new servicing model creates significant synergies, enabling us to deliver enhanced solutions to clients across the region. QNB’s scale and network in Qatar are important to State Street as we invest further to support GCC clients in capturing opportunities driven by the region’s economic transformation.”
