International Law Firm Clyde & Co Establishes Office in DIFCPress Release16 Sep 2009 09:59 am
New Office to be Headquarters for Firm's Financial Services Practice in the Middle East
International law firm Clyde & Co LLP announced today that it has established an office in the Dubai International Financial Centre (DIFC). The DIFC office will serve as the headquarters for the firm's regulatory, insurance, and banking and finance practices in the Middle East.
A leading international law firm with a long history in the region, Clyde & Co was licensed onshore in Dubai in 1989. The firm currently has over 150 specialist lawyers and paralegals, based in offices in Dubai, Abu Dhabi, Doha and Riyadh, working together as a single unit. The new DIFC office is Clyde & Co's second in Dubai and 22nd worldwide.
HE Dr. Omar Bin Sulaiman, Governor of DIFC said: "Legal firms provide key support services and play an important role in the development of a robust financial services industry. We are keen to develop a critical mass of both international and local legal firms that can provide high-quality legal services to financial institutions in the region. With its vast international and regional expertise, Clyde & Co will enrich the growing pool of legal services available within the financial services community in DIFC."
Abdulla Al Awar, CEO of the DIFC Authority said: "Legal firms comprise a major component of DIFC's ancillary services sector, which plays a key role in supporting the growth of financial services firms here. The presence of global firms like Clyde & Co supports both the development of DIFC's financial services cluster and the maturation and growth of financial and capital markets in the region. As DIFC develops further as a global financial hub, we expect the number of international legal firms in the financial district to grow further. We look forward to providing the services and support that Clyde & Co needs to grow its business in the region."
Ashley Painter, Head of Banking and Finance for the Middle East for Clyde & Co, said: "DIFC is a major hub for the region's financial services sector' . Establishing an office in DIFC will enable us to enhance our engagement with, and contribution to, the regional financial services community."
Clyde & Co's Middle East financial services practice was described in 2008 by independent legal sector directory Legal 500 as "a potent force in the banking and finance arena." The subsequent 2009 edition noted that Clyde & Co represents many of the most influential banks in the region. Clyde & Co is also renowned internationally for its insurance sector expertise.