First Abu Dhabi Bank

A Message from Lord Pickles and Lord Blunkett, followed by First Abu Dhabi Bank's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from First Abu Dhabi Bank is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.bankfab.com

THE PARLIAMENTARY REVIEW
Highlighting best practice
THE PARLIAMENTARY REVIEW
Highlighting best practice
14 | FIRST ABU DHABI BANK
Paul Hartwell, CEO, FAB UK
With a longstanding presence in London, First Abu
Dhabi Bank UK is a trusted enabler of cross-border
trade and investment between the UK and the MENA
region. FAB UK CEO Paul Hartwell tells
The Parliamentary Review
that FAB is one of the safest banks in the world, and how its
roots in Abu Dhabi provide it with a deep, rich understanding
of the dynamics of the region. Paul explores the importance of
trade and capital flows between the UK and the UAE, and talks
about why FAB UK is well-positioned to support clients doing
business in the UAE, MENA region and beyond.
FAB has a long-term commitment to the UK, positioning the bank as a trusted
partner to UK plc and private individuals, supporting UK trade and capital flows
with the MENA region.
FAB is the largest bank in the UAE, which is a member of the six-country Gulf
Cooperation Council and the second largest economy in the Arab world.
The GCC constitutes a particularly attractive international market for British firms,
with a 2019 World Bank report commending the ongoing reforms made towards
improving the business environment, and predicting the region’s growth will reach
3.2 per cent in 2020. The market is comprised of 27 million national consumers
and 29 million foreign nationals, and the six states have a combined gross domestic
product of $1.7 trillion, private wealth reserves of $1.5 trillion and approximately
$3 trillion in sovereign wealth funds.
The role of Gulf states
Recent years have seen an acceleration of business-friendly policies across the
Gulf region, while favourable market dynamics indicate that the GCC will attract
higher levels of trade and capital flows in the future. This increased activity flow
has helped the region develop financial, trade, transportation and communication
hubs, with the UAE taking a particularly prominent role.
Opportunities to increase bilateral trade and cooperation between the GCC and the
UK are now arising from key projects and development initiatives across the region.
Such projects include Expo 2020, UAE Vision 2021, the Abu Dhabi Economic
Vision 2030 and Saudi Vision 2030, which aim to deliver economic transformation
through a multitude of ambitious programmes. Many of the key pillars to be
developed include healthcare, education and infrastructure for which the UK can
provide integral support.
As well as the $38 billion of new investment opportunities available in the region, its
beneficial geographical locations, growing marketplaces for commodities, progressive
AT A GLANCE
FIRST ABU DHABI BANK
»UK CEO: Paul Hartwell
»FAB Group is headquartered in
Abu Dhabi, UAE, and operates
a network spanning five
continents
»European offices in Geneva,
London and Paris
»Services: Corporate &
investment banking, and
private banking
»Strongest combined ratings of
any bank in the MENA region
First Abu Dhabi Bank
15FIRST ABU DHABI BANK |
FINANCIAL SERVICES
financial services, an increasing number
of specialist industries and advances in
the ease of doing business – particularly
in the UAE – are all favourable reasons
for furthering UK-GCC trade.
In 2017, the total sum of all trade
between the EU and GCC stood at
$162.8 billion. According to British
government statistics, of the $57.19
billion worth of trade with the Middle
East, the Gulf region accounts for
$50.83 billion.
The recent weakness of the British
pound has resulted in Middle Eastern
investors – both institutional and
private – becoming increasingly active
in the UK, particularly in central
London and other large regional
cities. Even though investment into
UK real estate has slowed down over
the last year, primarily because of
the uncertainty surrounding the UK’s
decision to leave the European Union,
there is increasing consensus within
the banking community that once
clarity over Brexit is established, these
investors will return.
What role does First Abu
Dhabi Bank play?
With deep roots in Abu Dhabi, FAB
has a strong understanding of the
MENA region and its connection to the
world markets. As a result, FAB UK is a
trusted adviser and regional partner of
choice for supporting corporate trade
and capital flows with the UAE and
wider region.
FAB UK brings local expertise to
our international client base and
is highly experienced in providing
private banking services focused on
property investment and development
financing, trade finance, FX and
interest rate hedging and risk
management solutions, balance sheet
management and investment solutions.
And our continuous investment in
technology enables us to do this with
ever greater efficiency, contributing to
a seamless client experience.
We have specific expertise in the prime
central London real estate market and
a proven track record in providing
financing solutions for FTSE 100
and FTSE 250 companies – and their
equivalent European corporates – by
leveraging their sector capabilities in:
»Aerospace and defence
»Commercial real estate
»Engineering and construction
»General industrials
»Home construction
»Oil and gas
FAB UK forms a key element of the
bank’s international network, which
includes offices across Europe, Asia
and the Americas. One of only a
handful of AA-rated banks, FAB is
the largest bank in the United Arab
Emirates and the second largest in
the MENA region by total assets,
underpinned by a strong balance sheet
and solid fundamentals. According to
Global Finance’s Safest Bank ratings,
based on credit ratings and asset size,
FAB has been recognised as the safest
bank in the Middle East, the fourth
safest in emerging markets and the
22nd safest commercial bank globally.
FAB UK is based in
the heart of the City
of London
FAB UK is a
major conduit
for GCC
investors into
the UK
BEST PRACTICE SPONSOR 2020
THE PARLIAMENTARY REVIEW
Highlighting best practice
14 | FIRST ABU DHABI BANK
Paul Hartwell, CEO, FAB UK
With a longstanding presence in London, First Abu
Dhabi Bank UK is a trusted enabler of cross-border
trade and investment between the UK and the MENA
region. FAB UK CEO Paul Hartwell tells
The Parliamentary Review
that FAB is one of the safest banks in the world, and how its
roots in Abu Dhabi provide it with a deep, rich understanding
of the dynamics of the region. Paul explores the importance of
trade and capital flows between the UK and the UAE, and talks
about why FAB UK is well-positioned to support clients doing
business in the UAE, MENA region and beyond.
FAB has a long-term commitment to the UK, positioning the bank as a trusted
partner to UK plc and private individuals, supporting UK trade and capital flows
with the MENA region.
FAB is the largest bank in the UAE, which is a member of the six-country Gulf
Cooperation Council and the second largest economy in the Arab world.
The GCC constitutes a particularly attractive international market for British firms,
with a 2019 World Bank report commending the ongoing reforms made towards
improving the business environment, and predicting the region’s growth will reach
3.2 per cent in 2020. The market is comprised of 27 million national consumers
and 29 million foreign nationals, and the six states have a combined gross domestic
product of $1.7 trillion, private wealth reserves of $1.5 trillion and approximately
$3 trillion in sovereign wealth funds.
The role of Gulf states
Recent years have seen an acceleration of business-friendly policies across the
Gulf region, while favourable market dynamics indicate that the GCC will attract
higher levels of trade and capital flows in the future. This increased activity flow
has helped the region develop financial, trade, transportation and communication
hubs, with the UAE taking a particularly prominent role.
Opportunities to increase bilateral trade and cooperation between the GCC and the
UK are now arising from key projects and development initiatives across the region.
Such projects include Expo 2020, UAE Vision 2021, the Abu Dhabi Economic
Vision 2030 and Saudi Vision 2030, which aim to deliver economic transformation
through a multitude of ambitious programmes. Many of the key pillars to be
developed include healthcare, education and infrastructure for which the UK can
provide integral support.
As well as the $38 billion of new investment opportunities available in the region, its
beneficial geographical locations, growing marketplaces for commodities, progressive
AT A GLANCE
FIRST ABU DHABI BANK
»UK CEO: Paul Hartwell
»FAB Group is headquartered in
Abu Dhabi, UAE, and operates
a network spanning five
continents
»European offices in Geneva,
London and Paris
»Services: Corporate &
investment banking, and
private banking
»Strongest combined ratings of
any bank in the MENA region
First Abu Dhabi Bank
15FIRST ABU DHABI BANK |
FINANCIAL SERVICES
financial services, an increasing number
of specialist industries and advances in
the ease of doing business – particularly
in the UAE – are all favourable reasons
for furthering UK-GCC trade.
In 2017, the total sum of all trade
between the EU and GCC stood at
$162.8 billion. According to British
government statistics, of the $57.19
billion worth of trade with the Middle
East, the Gulf region accounts for
$50.83 billion.
The recent weakness of the British
pound has resulted in Middle Eastern
investors – both institutional and
private – becoming increasingly active
in the UK, particularly in central
London and other large regional
cities. Even though investment into
UK real estate has slowed down over
the last year, primarily because of
the uncertainty surrounding the UK’s
decision to leave the European Union,
there is increasing consensus within
the banking community that once
clarity over Brexit is established, these
investors will return.
What role does First Abu
Dhabi Bank play?
With deep roots in Abu Dhabi, FAB
has a strong understanding of the
MENA region and its connection to the
world markets. As a result, FAB UK is a
trusted adviser and regional partner of
choice for supporting corporate trade
and capital flows with the UAE and
wider region.
FAB UK brings local expertise to
our international client base and
is highly experienced in providing
private banking services focused on
property investment and development
financing, trade finance, FX and
interest rate hedging and risk
management solutions, balance sheet
management and investment solutions.
And our continuous investment in
technology enables us to do this with
ever greater efficiency, contributing to
a seamless client experience.
We have specific expertise in the prime
central London real estate market and
a proven track record in providing
financing solutions for FTSE 100
and FTSE 250 companies – and their
equivalent European corporates – by
leveraging their sector capabilities in:
»Aerospace and defence
»Commercial real estate
»Engineering and construction
»General industrials
»Home construction
»Oil and gas
FAB UK forms a key element of the
bank’s international network, which
includes offices across Europe, Asia
and the Americas. One of only a
handful of AA-rated banks, FAB is
the largest bank in the United Arab
Emirates and the second largest in
the MENA region by total assets,
underpinned by a strong balance sheet
and solid fundamentals. According to
Global Finance’s Safest Bank ratings,
based on credit ratings and asset size,
FAB has been recognised as the safest
bank in the Middle East, the fourth
safest in emerging markets and the
22nd safest commercial bank globally.
FAB UK is based in
the heart of the City
of London
FAB UK is a
major conduit
for GCC
investors into
the UK

www.bankfab.com

This article was sponsored by First Abu Dhabi Bank. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Elizabeth Truss.

Rt Hon Elizabeth Truss's Foreword For The Parliamentary Review

By Rt Hon Elizabeth Truss

Even by the standards of the day –this has been one of the most exciting and unpredictable years in British politics.

The leadership election we’ve just seen marks a huge moment in our country’s history. This government is taking a decisive new direction, embracing the opportunities of Brexit and preparing our country to flourish outside the EU.

As international trade secretary, I’ll be driving forward work on the free trade agreements that are going to be a priority for the government. Free trade isn’t just an abstract concept bandied around by technocrats. It is crucial for a strong economy and for the ability of families to make ends meet. Free trade benefits people in every part of our country, as British firms export to new markets and people doing the weekly shop have access to a wider choice of goods at lower prices.

The essence of free trade is in the title: freedom. It’s about giving people the power to exchange their goods without heavy government taxation or interference. Commerce and free exchange are the engine room of prosperity and social mobility. I’m determined to tackle the forces who want to hold that back.

One of my priorities is agreeing an exciting new free trade deal with the US, building on the great relationship between our two countries and the Prime Minister and US President. But I’ll also be talking to other partners including New Zealand, Australia and fast-growing Asian markets.

And with the EU too, we want a friendly and constructive relationship, as constitutional equals, and as friends and partners in facing the challenges that lie ahead – a relationship based on a deep free trade agreement. Our country produces some of the world’s most successful exports, and the opportunity to bring these to the rest of the world should make us all excited about the future. It is this excitement, optimism and ambition which I believe will come to define this government.

For too long now, we have been told Britain isn’t big or important enough to survive outside the EU – that we have to accept a deal that reflects our reduced circumstances. I say that’s rubbish. With the right policies in place, we can be the most competitive, free-thinking, prosperous nation on Earth exporting to the world and leading in new developments like AI. To do that, we’ll give the brilliant next generation of entrepreneurs the tools they need to succeed. Since 2015, there has been a staggering 85 per cent rise in the number of businesses set up by 18 to 24 year olds – twice the level set up by the same age group in France and Germany. We’ll help them flourish by championing enterprise, cutting taxes and making regulation flexible and responsive to their needs.

As we do that, we’ll level up and unite all parts of the UK with great transport links, fibre broadband in every home and proper school funding, so everyone shares in our country’s success.

2019 has been the year of brewing economic and political revolution. 2020 will be the year when a revitalised Conservative government turbo charges the economy, boosts prospects for people across the country, and catapults Britain back to the forefront of the world stage.



Rt Hon Elizabeth Truss
Secretary of State for International Development