Dechert has launched its second office in Saudi Arabia, opening its doors in Riyadh.
The US firm has operated in Saudi since 2015 through an association with the Law Office of Hassan Mahassni in Jeddah.
The Riyadh office will help the firm grow its capital markets practice in the region. Global capital markets head Camille Abousleiman, who is based in London, will work closely with the Saudi Arabia offices.
Abousleiman’s clients include Bank Audi, Commercial International Bank of Egypt, and EFG-Hermes Holding.
Dechert’s new Riyadh team will also include Husam El-Khatib, who joined Dechert from DLA Piper in July 2016.
International firms operating in Saudi Arabia are required by local law to work through an association with a domestic firm.
Until recently Clifford Chance and Clyde & Co were the only two international firms to operate solely under their own names in the Kingdom, running their businesses through a mixed local and foreign lawyer partnership.
In August Clifford Chance ended its mixed partnership and launched a new association with newly formed domestic firm Abuhimed Alsheikh Alhagbani Law Firm. The change in legal status came about following a legal battle concerning the validity of international joint ventures in the region, which was understood to have placed the magic circle firm’s office under threat.
Clydes still operates a mixed partnership in Saudi Arabia with The Law Office of Abdulaziz AL-Bosaily, which was created in March 2015.
Saudi Arabia is still proving a popular destination for international law firms. Taylor Wessing launched an alliance with Alsulaim Alawaji & Partners in May while DWF Middle East managing partner Waseem Khokhar said that he intends to open an office in Saudi Arabia.
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