There’s no denying that it has been tough going for all and sundry in the Gulf region over the last 12 months. Staff have been laid off, operations scaled back or offices closed.
But amidst all the turmoil the Gulf retains its lustre for the world’s law firms; this much is clear from the sheer numbers of law firms looking to set up or expand within the region despite the inclement economic conditions.
ALB should, for the first time, single out the fastest growing law firms in the Middle East by headcount and revenue increases. These five firms have outperformed all others in the region in this period using their business acumen and agility to capitalise on the opportunities for growth that only seem to arise in the context of a crisis. Here are the five fastest growing law firms in the Middle East.
THE ALB FAST 5 : GULF
Clyde & Co
- Managing partner: Jonathan Silver
- Number of partners/other fee earners: 26/138
- Middle East offices: Abu Dhabi, Doha, Dubai, Riyadh
Partners Revenue Offices opened 2008 20 119 2009 26 138 up 52% Dubai (DIFC) (via alliance/association):
earners
(April 2009)
Summary:
The firm has been busier than most other international players in the Gulf over the past 12 months. Apart from opening a second office in Dubai, the firm also made up six new partners. Ben Gillespie and Glenn O’Brien were rewarded with partnership posts while the firm also secured a number of high-profile lateral hires. Takaful specialist Peter Hodgins joined from the Riyadh office of DLA, Scott Aitken from Australian firm Clayton Utz, and David McElveny from Deacons Australia. As impressive are the firm’s financials for this period. Clydes posted a 52% revenue increase on the same period last year, meaning it is among the best performers by revenue in the Gulf.
Al Tamimi & Co
- Managing partner: Husam Hourani (acting)
- Number of partners/other fee earners: 27/160
- Middle East offices: Dubai (3 offices), Sharjah, Abu Dhabi, Amman, Doha, Baghdad, Riyadh
|
|
Partners |
Fee |
Offices opened |
|
2008 |
24 |
131 |
|
|
2009 |
27 |
160 |
|
Summary:
Another impressive year for this Gulf domestic heavyweight in which it increased its already sizeable regional footprint. It became the first foreign firm allowed into Riyadh without an association, re-entered war-torn Iraq and gained a foothold in the Jordanian capital Amman after subsuming local firm Hamarneh & Saqqaf. The firm also increased its partner headcount by nearly 8% and its fee-earner stocks by just over 18%. Crowned the ALB Employer of Choice earlier this year, Al Tamimi will no doubt be looking to dip into a Gulf employment market that is showing sure signs of recovery.
Denton Wilde Sapte
- Managing partner: Dubai – Neil Cuthbert (Managing Partner – Middle East); Abu Dhabi – Andrew Ward; Amman – Safwan Moubaydeen; Doha – Leigh Hall; Kuwait – David Pfeiffer; Muscat – Paul Sheridan; Riyadh – Amgad Husein.
- Number of partners/other fee earners: 30/101
- Middle East offices: Abu Dhabi, Amman*, Doha, Dubai, Kuwait*, Muscat, Riyadh, (*exclusive associate offices)
|
|
Partners |
Fee |
Revenue |
|
2008 |
23 |
86 |
|
|
2009 |
30 |
101 |
up 32% (30 Apr 2009) |
Summary:
2009 was another of growth for one of the oldest international practices in the Gulf region. Dentons increased its partner headcount by seven (an increase of almost 30%) and its cache of fee-earners by 15. On the lateral hire front, the firm appointed former Clifford Chance lawyer Paul Davies to head up its regional real estate practice and construction and arbitration specialist Peter Shaw from Taylor Wessing. The firm’s financial figures are also in a healthy state. It posted a 32% spike in revenue compared to the same period last year. ALB has been told by the firm that further expansion in the region is ‘imminent’, as the firm is only awaiting the regulatory approvals.
Eversheds
- Managing partner: Christopher Jobson, managing director Middle East
- Number of partners/other fee earners: 19
- Middle East offices: Doha, Abu Dhabi
|
|
Partners |
Fee earners |
Revenue |
Office opened |
|
2008 |
4 |
7 |
|
|
|
2009 |
6 |
13 |
up 354% |
|
Summary:
It’s not every year that a law firm can claim to have seen triple-digit revenue growth, but this certainly is the case for UK firm Eversheds. It increased its takings in the most-recent financial year by a whopping 354% and brought two new partners and six new fee-earners on board in the process. The firm also expanded its regional footprint through alliances. It opened offices in Jeddah and Riyadh through co-operation with Saudi law firm Hani Qurashi.
Norton Rose
- Managing partner: Campbell Steedman
- Number of partners/other fee earners: 15/48
- Middle East offices: Bahrain; Abu Dhabi, Dubai; Riyadh (associate office)
|
|
Partners |
Fee earners |
Office opened |
|
2008 |
11 |
35 |
|
|
2009 |
15 |
48 |
|
Summary:
Although Norton’s has grabbed its fair share of headlines in Asia and the UK over the last year, it has also stolen the Gulf limelight on a couple of occasions as well. The firm opened an office in Abu Dhabi, lured partner Donald Francoeur from Qatar firm Gebran Majdalany and elevated Dubai-based real estate lawyer Nick Clayson to its partnership. ALB
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