Norton Rose has agreed an association with a Saudi Arabian law firm to launch a new office in the kingdom.
Norton Rose forms alliance with Saudi Arabian law firm" /> Norton Rose has agreed an association with a Saudi Arabian law firm to launch a new office in the kingdom.
The City firm has allied itself with 15-lawyer firm Abdulaziz Al-Assaf, which is based in the Kingdom Centre in Riyadh.
The association, which took 18 months to be formalised, will see recent Norton Rose recruit Kaamil Ansar, the founder of Saudi firm Ansar Abbasi, become the firm's first alliance representative.
Ansar, a project finance and corporate finance specialist, will be based in Riyadh, which global head of banking Stephen Parish said is crucial for Norton Rose's strategy.
"The King Abdullah Financial District is currently being created in the kingdom, which once it's complete will be the largest financial centre in the Middle East, so for us to be credible in the region it's essential to have a presence on the ground in Saudi," said Parish.
Norton Rose chief executive Peter Martyr added that Saudi's plans for the development of its infrastructure, privatisation, the creation of public companies and the investment of some of its wealth outside the country mirrors Norton Rose's expertise and fits with its strategy.
The Saudi office adds to the firm's armoury in the Middle East, which consists of existing offices in Bahrain and Dubai.