New FAB partnership gives UAE investors exclusive access to T. Rowe Price global strategies
First Abu Dhabi Bank and T. Rowe Price announced a strategic partnership on 12 January 2026 that will deliver global investment solutions across equity, fixed income, alternatives, and multi-asset strategies to clients throughout the Gulf Cooperation Council region. Under the agreement, T. Rowe Price will serve as FAB's investment partner, providing tailored solutions to retail, private banking, and institutional clients across the UAE, Saudi Arabia, Kuwait, Bahrain, Oman, and Qatar.
The partnership positions FAB clients to access T. Rowe Price's proprietary research and investment expertise built over 85 years of active management. For T. Rowe Price, the collaboration provides direct access to FAB's extensive regional distribution network spanning more than 20 markets and the bank's 4 million customer base, according to PR Newswire and Reuters reports.
Strategic Rationale and Market Context
The partnership targets a rapidly expanding market opportunity. The GCC asset management sector is projected to reach approximately $500 billion in onshore assets by 2026, up from $400 billion at the end of 2022, according to The National. This growth reflects strong capital inflows supported by favorable oil prices, record IPO activity, and supportive regulatory initiatives making onshore investment more attractive to regional wealth holders.
Currently, over 70% of regional private wealth remains in offshore accounts, but this trend is shifting as domestic investment capabilities mature. The UAE has emerged as the Middle East's largest wealth management center with approximately $110 billion in assets under management and around 83,000 millionaires residing in the country, according to KPMG research.
Executive Perspectives
Hana Al Rostamani, Group Chief Executive Officer at First Abu Dhabi Bank, stated the partnership "reflects our continued focus on expanding the depth and quality of investment solutions we deliver to our clients" while "reinforcing FAB's position as the UAE's global bank and a trusted financial partner across the region."
Rob Sharps, Chair and Chief Executive Officer of T. Rowe Price, emphasized the firm's commitment to "deliver world-class investment solutions across public and private markets, tailored to meet the needs of investors throughout the GCC." Sharps described the collaboration as reflecting T. Rowe Price's strategy of "growing and diversifying our business through innovative global partnerships."
FAB's Scale and Financial Performance
FAB reported total assets of AED 1.38 trillion (USD 376 billion) as of 30 September 2025, ranking among the world's largest banking groups. The bank delivered a 9-month net profit of AED 16.02 billion, representing 24% year-over-year growth, with Return on Tangible Equity standing at 20%, according to Gulf News.
The bank's wealth management division has seen particularly strong momentum, with Assets Under Management surging 49% year-over-year in mid-2025. Wealth and private banking AUM specifically grew approximately 61% year-over-year, driven by strong inflows, expanded private banking offerings, and new discretionary mandates. FAB maintains one of the strongest combined credit ratings in the MENA region with Aa3 from Moody's and AA- from both S&P Global and Fitch Ratings.
T. Rowe Price's Alternatives Expansion
T. Rowe Price manages $1.79 trillion in assets as of November 2025, with approximately two-thirds being retirement-related. The Baltimore-based firm completed its acquisition of Oak Hill Advisors in December 2021 for approximately $4.2 billion, bringing the alternative credit manager's expertise and approximately $108 billion in alternative credit assets into the T. Rowe Price platform.
The FAB partnership builds on T. Rowe Price's recent distribution-focused strategy, including a September 2025 strategic collaboration with Goldman Sachs that launched four model portfolios combining active management with alternatives platforms. This partnership pattern demonstrates T. Rowe Price's commitment to expanding its global reach through selective institutional alliances in high-growth markets.
Implications for UAE Investors
The partnership enables UAE investors across retail, private banking, and institutional segments to access investment strategies previously unavailable through local distribution channels. The firms plan to jointly develop new solutions tailored specifically for GCC clients, combining T. Rowe Price's global investment capabilities with FAB's regional market insights and client relationships.
The collaboration supports the continued development of the GCC's asset management landscape in line with international best practices and global investment standards, contributing to the region's maturation as a financial hub. Abu Dhabi Global Market reported a 32% surge in registered companies year-over-year and a 245% increase in assets under management in 2024 versus 2023, reflecting accelerating momentum in the UAE's financial services sector.
Further Reading
First Abu Dhabi Bank and T. Rowe Price Enter Into a Strategic Partnership (PR Newswire)UAE's FAB teams up with T. Rowe Price to expand investment services (Reuters)
GCC's asset management market to hit $500bn in onshore assets by 2026 (The National)
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