State Street Expands into Oman Through Joint Venture with Jadwa Investment
US asset manager State Street and Saudi Arabia's Jadwa Investment have agreed to jointly expand financial services offerings in Oman. The move reflects State Street's broader Gulf strategy and Oman's efforts to develop its capital markets through new regulatory frameworks. The expansion signals growing foreign investor interest in Oman's improving financial position and strategic geographic advantages.
State Street, which manages $5.6 trillion in global assets, has partnered with Saudi Arabia's Jadwa Investment to expand operations in Oman as part of a broader regional growth strategy. The deal comes as Oman seeks to develop its capital markets and attract foreign financial firms, having established the Oman International Financial Centre in January based on English common law. State Street has made the Gulf a key focus area, opening a regional headquarters in Riyadh last year and planning to hire 300 people for an operating center in the UAE. Oman has improved its public finances and credit rating in recent years and benefits from its geographic position outside the Strait of Hormuz, allowing continued crude exports and goods transit during regional tensions.
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- SemaforCenter
State Street’s Gulf expansion adds Oman
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