Abu Dhabi Commercial Bank (ADCB) has announced a new strategic partnership with Bank of America Merrill Lynch aimed at improving customer services in the UAE.
Under the deal, Bank of America Merrill Lynch clients requiring services in the region will be able to access capabilities provided by ADCB while in turn, ADCB clients will have access to Bank of America Merrill Lynch's global network of corporate banking and cash management capabilities.
The banks said that at the heart of the relationship would be the establishment of a steering committee comprising senior bankers from both organisations.
This group is tasked with developing global working relationships and sharing opportunities, they said.
"Today is an important day for the UAE banking sector," commented Ala'a Eraiqat, chief executive officer of ADCB.
"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."