Clyde & Co has obtained the formal approval from the authorities in the Kingdom of Saudi Arabia (KSA) that will enable it to open a fully integrated Clyde & Co office in Riyadh.
Clyde & Co has been providing advice and assistance to its clients in relation to their operations in Saudi Arabia via its associated law firm in Riyadh, Abdulaziz Al-Bosaily Law Office, since 2009. The move to a fully integrated Clyde & Co office is a major step forward for Clyde & Co in KSA providing a solid platform for further expansion of its KSA business. The firm will be only one of two global law firms operating in KSA to move away from the traditional associated office structure.
Abdulaziz Al-Bosaily and Clyde & Co will jointly operate the newly-established professional company. Abdulaziz Al-Bosaily will head the office and act as the General Manager of the new structure. Abdulaziz, former General Counsel of the Saudi Arabian General Investment Authority (SAGIA), is a leading corporate & commercial lawyer in KSA and was recently named 'External Counsel of the Year 2013' by Asian MENA Counsel's annual 'Representing Corporate Asia and Middle East Survey' of over 20,000 in-house counsel based across the Middle East and Asia.
Ben Cowling, a specialist construction partner of Clyde & Co who has been resident in KSA since 2012, will continue to be based in the Riyadh office and assist with the management of the office.
Abdulaziz Al-Bosaily said:
"I am very excited about the new structure as this is a natural extension of the strong relationship and great successes that my firm has built together with Clyde & Co over the last 5 years. The Saudi economy continues to attract international companies and we stand ready to assist those companies with all their legal requirements.
I am confident that with the full support of Clyde & Co's global network, we will continue to grow the business in KSA and our clients will benefit from a seamless, full legal service. We remain fully committed to the development of our people and the new firm will provide excellent opportunities for local lawyers to progress their careers through a global network."
Jonathan Silver, Head of Clyde & Co's Middle East and North Africa operations said:
"The registration of a Clyde & Co office in Saudi Arabia is very much a part of our regional strategy. It reflects the strength of the relationship we have built with Abdulaziz since we created the association 5 years ago and the confidence we have in him and the team in KSA.
The Saudi economy continues to be the largest and most attractive in the AGCC and with the strength and depth of the offering we provide to local and international businesses, we have very high hopes for the growth of our Saudi practice through the new structure over the coming years."
The team of locally and internationally qualified lawyers that is based in Riyadh consists of 2 partners and 11 permanent fee-earning staff, 75% of whom are Saudi nationals. The team is supported by Clyde & Co's wider regional team, which across all MENA offices consists of more than 140 lawyers.
For the interim period and until various administrative matters are finalised, the office will continue to operate as Abdulaziz Al-Bosaily Law Office in association with Clyde & Co. Clients will be informed of the formal transfer of operations to the new structure later in the year.