09:57 AM EST, 03/06/2024 (MT Newswires) -- State Street (STT) said Wednesday it is planning to reopen its office in Dubai four years after it closed it to move to Abu Dhabi, Bloomberg reported Wednesday.

State Street Global Advisors will consolidate its asset management projects in its Dubai and Riyadh offices, Bloomberg reported, adding that the company also plans to keep growing its Abu Dhabi Global Market team, where employees will focus only on investment servicing.

State Street also plans to boost its investments in the Middle East, the report said.

State Street didn't immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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