Orrick Herrington & Sutcliffe has decided against former plans to launch an office in the Middle East.  The firm had explored the possibility to open in both Abu Dhabi and Dubai, but now neither will come to fruition. The firm explained that this decision is based on the economic downturn in the region.  

Source:  www.thelawyer.com

It is official; the first firm in the Middle East has cut jobs. That honor goes to Trowers & Hamlins. Trowers has spent the last four decades in the region, without ever having to say the word redundancy. Until now. The firm has let go 5 attorneys in Dubai, and has made an attorney in each Muscat and Riyadh redundant. This may be just the beginning of a legal decline, in the once booming middle east. Growth in the region has recently been substantial, as the following firms have launched offices there: Dewey & LeBoeuf, Clifford Chance, Latham & Watkins, King & Spalding, Hogan & Hartson, Berwin Leighton Paisner, Allen & Overy, Curtis Mallet-Prevost, and Shearman & Sterling.

Source:  www.thelawyer.com

Shibeer Ahmed, Lovells’ Dubai head, is jumping ship, but to where is still a mystery. Ahmed has spent nine years with Lovells. He has not announced where he is moving, but says that it will be another firm in Dubai. He will not be accompanied by any associates from Lovells.

Source:  www.thelawyer.com

Patton Boggs is making itself know in the Middle East. The firm has launched an office Abu Dhabi, United Arab Emirates. Although Patton has worked in Abu Dhabi for thirty years, this is the beginning of having resident lawyers in the city. The office will also be working with the firm’s other Middle Eastern offices, inlcuding those in Dubai and Doha, Qatar. The Abu Dhabi office will provide legal service in a number of practice groups, including: private capital and investment funds; banking and financial institutions; international business transactions; construction, infrastructure and real estate; Islamic finance; and litigation and dispute resolution.

Source: www.marketwatch.com

The Washington DC-based law firm of Hogan & Hartson has announced it will open an office in Abu Dhabi, which will be its first office in the Middle East. Heading up the new office will be Ray Batla from Hogan’s London office. The move to Abu Dhabi will allow the firm to work more closely will its current Middle Eastern clients and will also open opportunities for growth in the area.

Source: www.thelawyer.com

Dubai Multi Commodities Centre, a branch of the government-controlled group Dubai World, is investing a whopping $250 million in five U.S. Hedge-fund managers. The five hedge funds will conduct business in accord with shariah, or Islamic law, which will greatly affect their financial strategies. More >>

Dubai Multi Commodities Centre, a branch of the government-controlled group Dubai World, is investing a whopping $250 million in five U.S. Hedge-fund managers. The five hedge funds will conduct business in accord with shariah, or Islamic law, which will greatly affect their financial strategies. For example, they will not be allowed to invest in alcohol-related companies, nor will they be able to sell what they do not own, which eliminates short selling from the equation. The five hedge-fund managers include: Tocqueville Asset Management, BlackRock Inc., Zweig-DiMenna International Managers, Ospraie Management, and Lucas Capital Management.

Source: www.online.wsj.com

Latham & Watkins plans to open three offices in the Middle East in March of this year, holding the distinction of the first law firm to do so. Last week Latham hired corporate partner Rindala Beydoun to head the three offices in Abu Dhabi, Dubai and Qatar in March. Three Latham partners and about 12 associates will also transfer to the Middle East later this year. The firm is also “actively recruiting from the market at the moment,”Beydoun says.
Source: thelawyer.com

Top law firms Latham & Watkins and Freshfields Bruckhaus Deringer are set to embark on initiatives to gain footing in the Middle Eastern market. Latham has hired partners from Vinson & Elkins to launch their Dubai branch, while Freshfields has relocated many of its London associates to its existing offices in the area. Allen & Overy and Clifford Chance are among the premier firms with UAE branches, solidifying a trend in efforts to capture lucrative clients in the Middle East.
Source: www.legalweek.com

Akin Gump Straus Hauer and Feld is having some trouble in Dubai. Recently Dewey & LeBoeuf recently raided the firm’s regional office, nabbing both partners, Gavin Watson and Chris Sioufi. Dewey & LeBeouf representatives said that they are aiming to attract 12-18 attorneys to their Dubai office, and that this move was the first step towards that goal.
Source: www.thelawyer.com