State Street and Albilad Capital Sign Strategic Agreement

(BUSINESS WIRE) -- State Street Corporation (NYSE: STT) today announced the signing of a strategic co-operation agreement with Albilad Capital, one of Saudi Arabia’s leading financial institutions specializing in securities services and asset management. Under this agreement, State Street will support Albilad Capital’s securities services offering in the Kingdom.

This relationship underscores State Street’s long-term strategic investment into the Kingdom and its strategy to provide global product capabilities to local clients. Aligned with Saudi Arabia’s Vision 2030, the collaboration aims to strengthen the Saudi financial and capital markets by combining State Street’s industry-leading solutions with Albilad Capital’s local market expertise.

“We are delighted to collaborate with Albilad Capital to support its clients and growth and help propel the development of the Kingdom’s capital markets,” said Ron O'Hanley, Chairman and chief executive officer of State Street. “This strategic alliance highlights State Street's commitment to expanding our presence in the Kingdom and to providing world-class, innovative securities services to local and international clients in one of the world’s fastest growing markets. By combining State Street’s global capabilities with Albilad Capital's market knowledge, we will meet the growing demand for sophisticated investment solutions and help support the Kingdom's ambitions to become a leading financial center."

“This collaboration reflects Albilad Capital's commitment to driving the evolution of the securities services sector in the Kingdom and enhancing market competitiveness through the adoption of best global practices,” said Mr. Zaid AlMufarih, CEO of Albilad Capital. “We are proud of this agreement that combines State Street's global expertise and advanced technological infrastructure with Albilad Capital's leadership in the local market, enabling us to offer innovative and efficient investment solutions that support market development and meet our clients' needs. Albilad Capital and State Street share a common vision centered on innovation, operational excellence, and integrating the best global practices to deliver highly efficient and effective local services. We are confident that this collaboration will contribute to transferring and localizing global knowledge, thereby supporting the development of the financial market infrastructure in the Kingdom."

State Street has served clients in the Kingdom of Saudi Arabia for over 25 years and established local operations in 2020. Today, the firm manages $127 billion in assets under custody and/or administration and $60 billion in assets under management for clients in the Kingdom.

“This initial co-operation agreement is the first step into a long-term strategic relationship,” said Oliver Berger, Head of Strategic Growth Markets of State Street. “Our aim is to deepen collaboration and introduce additional investment services and capabilities to Saudi clients, enhancing capital market efficiency and leveraging the ETF capabilities of both firms to facilitate foreign direct investment into the Kingdom."

Albilad Capital, the investment arm of Bank Albilad, was established in 2008 and provides a wide range of services including brokerage, asset management, investment banking, custody and advisory services to institutional investors with a focus on Sharia-compliant products. The firm currently manages over $50 billion in assets under custody and/or administration.

The signing ceremony took place in Riyadh on October 29th, 2025, attended by the Chairman and CEO from both companies and other key senior dignitaries.

About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $51.7 trillion in assets under custody and/or administration and $5.4 trillion* in assets under management as of September 30, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide. For more information, visit State Street's website www.statestreet.com.

*Assets under management as of September 30, 2025 includes approximately $145 billion of assets with respect to SPDR^® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated.

© 2025 State Street Corporation

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