State Street and QNB Group Partner on New Custody Model in Qatar
Event summary
- State Street and QNB Group signed a strategic alliance to launch a new custody servicing model in Qatar, announced at the World Economic Forum in Davos on January 21, 2026.
- The agreement aims to combine State Street’s global scale with QNB’s local market expertise in Qatar.
- State Street manages $12.92 trillion in assets under custody/administration and $841 billion under management in EMEA, while QNB Custody oversees $65 billion in assets.
The big picture
This partnership underscores State Street’s push into high-growth markets like the GCC, where sovereign wealth funds and institutional investors are expanding. The alliance also highlights QNB Group’s strategy to leverage global expertise while maintaining its leadership in regional custody services. With $12.92 trillion in assets under custody/administration, State Street aims to deepen its footprint in a region undergoing rapid economic transformation.
What we're watching
- Market Expansion
- How State Street’s collaboration with QNB Group will impact its market position in the GCC region.
- Regulatory Compliance
- Whether the new custody model adheres to Qatar Financial Market Authority regulations and other local requirements.
- Execution Risk
- The pace at which service agreements are finalized and implemented, given the initial lack of specific details.