T. Rowe Price Group announced a strategic partnership with First Abu Dhabi Bank (FAB) on January 12, 2026. Under the agreement, T. Rowe Price will serve as FAB’s investment partner, offering a full suite of equity, fixed‑income, alternative, and multi‑asset strategies to FAB’s retail, private‑banking, and institutional clients across the Gulf Cooperation Council (GCC). The deal gives FAB access to T. Rowe Price’s global research and product breadth, while opening a new distribution channel for the U.S.‑based asset manager in a market that is rapidly professionalizing its wealth‑management services.
FAB’s chief executive, Hana Al Rostamani, said the partnership “strengthens our differentiated investment capabilities across key client segments and reinforces FAB’s position as the UAE’s global bank.” By leveraging T. Rowe Price’s active‑management expertise, FAB aims to broaden its product offering and deliver customized, high‑value solutions to its diverse client base, positioning the bank to capture a larger share of the GCC’s growing wealth‑management market.
Rob Sharps, chair, CEO and president of T. Rowe Price, noted that the collaboration “reflects our commitment to growing and diversifying our business through innovative global partnerships.” The deal aligns with T. Rowe Price’s strategy to expand beyond the United States, complementing its existing initiatives in Canada and Asia. With $1.79 trillion in assets under management as of November 30, 2025, the partnership is expected to generate new fee‑earning opportunities and enhance the firm’s distribution network in the Middle East.
The partnership is a material event for T. Rowe Price because it opens a new geographic market and could shift the firm’s revenue mix toward higher‑margin alternative and multi‑asset products. Analysts have responded by adjusting price targets: BMO Capital raised its target to $110 from $108, maintaining a “Market Perform” rating, while Autonomous Research lifted its target to $88 from $86, keeping an “Underperform” rating. The divergent views reflect differing assessments of how the partnership will balance T. Rowe Price’s active‑management strengths against the broader industry shift toward passive investing and fee compression.
The deal underscores a broader trend of Western wealth managers expanding into the GCC, where banks are seeking to deepen their asset‑management capabilities. For T. Rowe Price, the partnership signals a strategic pivot toward high‑growth markets and a diversification of its client base, which could support long‑term revenue growth and mitigate concentration risk in the U.S. market.
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