Brian Moynihan, Chairman and CEO of Bank of America, met Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the United Arab Emirates and ruler of Dubai. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and the head of Dubai’s Executive Council, Sheikh Ahmed bin Saeed Al Maktoum, the chairman and chief executive of Emirates Airline and Group, and Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum, the chairman of the Dubai Sports Council, also attended the meeting.
Sheikh Mohammed spoke about the enormous opportunity the UAE’s aspirational growth plans present for international financial institutions. During the discussion, it was also discussed how Dubai and the United Arab Emirates could help Bank of America improve its business operations domestically and regionally.
Sheikh Mohammed stated that the UAE continues to establish a strong network of alliances with international banking and financial services. His Highness also emphasised that one of the main objectives of the recently unveiled Dubai Economic Agenda D33 is to make Dubai one of the top four financial centres in the world, according to khaleej Times, adding that the UAE is still at the forefront of implementing cutting-edge technologies and novel business models that are altering the financial sector’s landscape.
With around 3,900 retail financial centres, Bank of America serves about 68 million consumers and small business clients and is a global leader in wealth management, corporate and investment banking, and trading across a wide variety of asset classes. With activities in 35 nations, the corporation employs more than 213,000 people worldwide.
One of the top financial management and advisory firms in the world, Merrill Lynch, a Bank of America affiliate, built its headquarters. The UAE and Dubai, according to Bank of America’s Chairman and CEO, constitute a significant global basis for the company’s plans to develop innovation and expand its global operations. “The business continues to be committed to expanding outside of the UAE,” he said.
