Abu Dhabi:First Abu Dhabi Bank (FAB) has announced the acquisition of 100 percent of Yasira Financial Services B.S.C. (C), a Bahrain-based fund administration and trust services platform. This acquisition is a strategic move to advance FAB's integrated Securities Services offering.
According to Wam, the transaction will strengthen the bank's ability to deliver integrated solutions to asset managers and institutional investors across public and private markets. The integration of Yasira's established fund administration platform and expertise with FAB's regional custody capabilities will enhance the bank's service offerings.
Yasira's platform supports a diverse range of investment strategies, including public assets, private equity, venture capital, and real estate. It provides comprehensive support throughout the fund lifecycle for private-market funds, which will complement FAB's existing custody services for public-market assets.
The acquisition aims to bolster FAB's MENASSA Securities Services by merging Yasira's fund administration expertise with FAB's global custody, cash management, and foreign-exchange capabilities. This collaboration will enable FAB to offer a more integrated investment lifecycle service to its clients.
Pantelis (Linos) D. Lekkas, Group Head of Investment Banking and Markets at FAB, emphasized the importance of this acquisition in strengthening FAB's Securities Services franchise. He highlighted the growing demand for integrated servicing capabilities in the regional funds industry and reaffirmed the bank's commitment to providing comprehensive, high-quality solutions.
The acquired business is set to be rebranded and integrated into FAB's broader Securities Services franchise, enhancing the bank's regional market presence.