Reed Smith latest to enter fledgling Saudi legal market
Transatlantic law firm Reed Smith has stormed into Saudi Arabia, becoming the latest international law firm to plant its flag in the Kingdom’s new legal market.
Two years ago, Saudi Arabia changed its law to allow foreign law firms to operate independently. The Saudi government’s strategy was to attract international business and legal expertise for its Vision 2030 plan.
Saudi Arabia Vision 2030 is a strategic framework for reducing Saudi Arabia’s dependence on oil, diversifying its economy, and developing public service sectors.
As a result, many US and UK law firms have established offices in either Riyadh or Jeddah, including Kirkland & Ellis in October 2023, Herbert Smith Freehills, and Freshfields in August.
Now, Reed Smith, which secured its license earlier this year, has opened its office in Riyadh.
Reed Smith’s Europe and Middle East managing partner, Gregor Pryor, will be seconded from London to Riyadh to grow the office and help ensure the its integration.
On its launch, the office has three arrivals from local law firm Mahassni: partner Emad Alshaikhi, senior associate Foram Majmudar, and government relations officer Sami Saafa.
Like many global firms, Reed Smith already has a presence in the Middle East, having opened its first office in Abu Dhabi in 1978, with an additional office in Dubai.
On the launch, Reed Smith managing partner Casey Ryan said: “In direct response to growing client demand, we have opened three new offices this year, a clear testament to our long-term growth strategy
“This expansion demonstrates our commitment to support our clients on their most complex, high-value matters, and aligns with our long-term strategy of being where our clients need us most.”
“The Kingdom’s ambitious economic diversification program, as part of Vision 2030, continues to generate significant business opportunities across a wide range of sectors that align with Reed Smith’s long-standing industry focus on finance, energy, entertainment and media, life sciences, and transportation,” she added.