Former Latham & Watkins’ Riyadh office managing partner Mohammed El-Sheikh has been named executive director and a member of The World Bank’s board of directors, representing Saudi Arabia, effective on Monday, the firm said in a statement.
Latham finance partner Salman Al-Sudairi has been appointed the firm’s new office managing partner in Saudi Arabia. As a result of the change, Latham & Watkins’ Saudi practice will now be in association with the law office of Salman M. Al-Sudairi.
Al-Sheikh, who is experienced in M&A, capital markets, project finance, restructuring, banking and general finance matters, is one of 25 executive directors at the World Bank. The World Bank’s board consists of the executive directors and its group president. The executive directors are responsible for the conduct of the general operations of the World Bank, and exercise all the powers delegated to them by the Boards of Governors.
“Mohammed’s election to this high office marks a major milestone in an illustrious career. This is a great honour for Mohammed who will serve his country and the World Bank with great distinction,” said Robert Dell, managing partner of Latham & Watkins. “His strong intellect, problem-solving talents, and integrity stand him in good stead to serve as an adviser and diplomat. We appreciate all Mohammed has contributed as a leader and colleague at our firm, and we wish him much success in his new role.”
Al-Sudairi joined Al-Sheikh’s Riyadh-based associate office in 2010 from Latham & Watkins in New York. He has advised Saudi Arabian and international banks in the restructuring of approximately 7.5 billion riyals of indebtedness of Al-Ittefaq Steel Products Company (ISPC Dammam). He has also advised on a number of landmark capital markets transactions, including the initial public offerings of Al- Tayyar Travel Group and Takween Advanced Industries.
“Salman brings sound judgment, energy, and business acumen to the leadership team in the Middle East,” Dell added. “The Middle East continues to be an influential and strategic hub in the global economy, and our strong team in Saudi Arabia, Qatar and the UAE is well placed to seize on the opportunities to further grow our practice.”
Shaheen Pasha is Middle East Regional Editor at ALB. Follow us on Twitter: @ALB_TheBrief.
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