Partnership seeks to capitalise on the country’s “Vision 2030” plan
The move is part of the UK-based firm’s efforts to capitalise on opportunities from the country’s “Vision 2030” plan, according to Middle East managing partner Scott Campbell.
Vision 2030 seeks to reduce the economy’s dependence on oil, and transform the country into a global investment and trade hub. Among other things, Saudi Crown Prince Mohammed bin Salman said the government seeks to create the world’s largest sovereign wealth fund and have major Saudi firms expand beyond the kingdom’s borders.
As part of the agreement, Linklaters managing associate Omar El Sayed will relocate from the firm’s Dubai office to offer on-the-ground support to clients operating or executing deals in Saudi Arabia, as well as developing opportunities with Zamakhchary & Co. He will be joined by another senior lawyer, whom Linklaters has not yet named.
Monaji Zamakhchary, partner and managing director of Zamakchary & Co., said both firms have worked in close partnership for a number of years. These include international and cross-border matters, with a particular focus on transactions in corporate/M&A, capital markets, banking and Islamic finance and project finance.
Qatar crisis leads to more shipping work for global firm
Global firm appoints Islamic finance head