Allen & Overy (A&O) has opened an independent office in the Kingdom of Saudi Arabia ahead of its merger with Shearman & Sterling, which goes live on May 1.
A&O said in a statement on Monday it has received its licence to operate in the Kingdom from the Saudi Ministry of Justice.
The office, based in Riyadh, will “strengthen and expand existing relationships with leading Saudi Arabian clients, as well as support international clients looking to invest in the region”, the statement said.
A&O’s team on the ground includes partners Hosam Ibn Ghaith and Haris Meyer Hanif.
Ibn Ghaith joined the firm from Hassana Investment Company, the investment manager of Saudi Arabia’s social security and pension fund GOSI (General Organization for Social Insurance), where he spent six years as general counsel. Prior to that, he practised at two Saudi law firms operating at the time in co-operation with A&O. He advises on matters including Saudi corporate law, capital markets transactions and Islamic finance across a range of sectors including financial institutions, private capital, and energy.
Hanif rejoined the firm earlier this year from Freshfields Bruckhaus Deringer where he was the firm’s head of finance in the Middle East and North Africa for over a decade, spending two years at A&O in Dubai prior to that. He specialises in restructuring and insolvency matters, leveraged and acquisition financings, and private capital transactions.
Alongside Dubai-based partner Adam Banks, Hanif will establish a senior bench of restructuring and capital solutions specialists covering the entire region, according to the statement.
Following the completion of A&O’s merger with Shearman to become A&O Shearman, the duo will be joined by Shearman’s team in Riyadh, led by Sultan Almasoud, who has headed the firm’s presence in the Kingdom for nearly a decade, and includes partner Mohsin Suleman.
“We are thrilled to announce the opening of our office in Riyadh as we look forward to supporting the Kingdom further on its ambitious diversification programme as part of Vision 2030,” said Khalid Garousha, regional managing partner for the Middle East and Turkey and interim global managing partner at A&O.
Garousha, who was this month announced as A&O Shearman’s first senior partner, effective from May 1, continued:
“A&O has had a strong presence in the Middle East since 1978, including a long history of advising clients in the Kingdom, and as A&O Shearman we look forward to continuing to combine the best of global and local to offer our domestic and international clients a full-service offering, bringing a breadth and depth of resource that we believe is unmatched. We are delighted to have established an independent office in the Kingdom and we look forward to the opportunities ahead.”
News of the merger between A&O and Shearman was first reported in May last year. In October, it received the green light to go ahead when 99% of partners at both firms approved the plans.
A&O Shearman is set to become the third largest law firm in the world, with combined revenues of approximately $3.4 billion and 3,950 lawyers across 48 offices.
Several international law firms have sought to establish a foothold in Saudi Arabia since it allowed outside legal work without the constraints of a local partner.
