Sullivan & Cromwell joins the stampede to Abu Dhabi
US law firm Sullivan & Cromwell is set to expand its global footprint into the Middle East by opening an office in Abu Dhabi after several other law firms boosted their presence in the region over the last year.
The Wall Street titan plans to advise clients across the United Arab Emirates (UAE), Saudi Arabia, and the wider region on financing, regulatory, and transactional matters related to the expansion.
It said the move follows its receipt of full regulatory approval from the Abu Dhabi Global Market (ADGM) Registration Authority and marks its expansion into the Middle East. “We welcome Sullivan & Cromwell to ADGM, the international financial centre of Abu Dhabi, and are pleased to see a leading global law firm establish a presence in our jurisdiction,” said Arvind Ramamurthy, ADGM’s chief market development officer.
Ramamurthy added that the firm’s decision to open the new office in the international financial centre “reflects the continued growth of Abu Dhabi as a leading hub for international finance, investment and professional services, and further strengthens the depth of expertise available to regional and global clients operating from ADGM.”
The expansion will be led by one of Sullivan & Cromwell’s former associates, Ahmed el-Gaili, as a partner, who previously spent six years with the firm in London before relocating to the Middle East, where he joined Latham & Watkins to lead the M&A practice in Saudi Arabia.
Sullivan & Cromwell’s co-chairs Robert Guiffra and Scott Miller said the firm is “pleased to welcome back” el-Gaili, with the hire “underscoring our long-term commitment to the region.”
“He is an outstanding lawyer who is ideally placed to lead our work in the Middle East as we build on the longstanding relationships and track record we have developed advising our clients on their most critical matters across the region,” the partners said.
Legal sector racing to the Gulf
This follows a growing number of law firms expanding into Abu Dhabi, including most recently , Paul Hastings later in March, Simmons & Simmons in June and Addleshaw Goddard also in June.
During the height of the drone attacks in the Gulf region following the US war in Iran, it was reported that many British and American expats, including lawyers, were in discussions of relocating back for safety.
US and British law firms have also been racing into Saudi Arabia following the country changing its law three years ago to allow foreign law firms to operate independently as part of a strategy to attract international business and legal expertise to support its Vision 2030 plan.