| 16 Sep 2009 |
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International Law Firm Clyde & Co Establishes Office in DIFC
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Dubai, 16 September, 2009 - International law firm Clyde & CoClyde & Co
LLP announced today that it has established an office in the Dubai International Financial CentreDubai International Financial Centre (DIFCDIFC). The DIFCDIFC office will serve as the headquarters for the firm’s regulatory, insurance, and banking and finance practices in the Middle East.
A leading international law firm with a long history in the region, Clyde & CoClyde & Co was licensed onshore in Dubai in 1989. The firm currently has over 150 specialist lawyers and paralegals, based in offices in Dubai, Abu Dhabi, Doha and Riyadh, working together as a single unit. The new DIFCDIFC office is Clyde & Co’s second in Dubai and 22nd worldwide.
HE Dr. Omar Bin Sulaiman, Governor of DIFCDIFC
said: “Legal firms provide key support services and play an important role in the development of a robust financial services industry. We are keen to develop a critical mass of both international and local legal firms that can provide high-quality legal services to financial institutions in the region. With its vast international and regional expertise, Clyde & CoClyde & Co will enrich the growing pool of legal services available within the financial services community in DIFCDIFC.”Abdulla Al Awar, CEO of the DIFCDIFC Authority said: “Legal firms comprise a major component of DIFC’s ancillary services sector, which plays a key role in supporting the growth of financial services firms here. The presence of global firms like Clyde & CoClyde & Co supports both the development of DIFC’s financial services cluster and the maturation and growth of financial and capital markets in the region. As DIFCDIFC develops further as a global financial hub, we expect the number of international legal firms in the financial district to grow further. We look forward to providing the services and support that Clyde & CoClyde & Co needs to grow its business in the region.”
Ashley Painter, Head of Banking and Finance for the Middle East for Clyde & CoClyde & Co
, said: "DIFCDIFC is a major hub for the region's financial services sector' . Establishing an office in DIFCDIFC will enable us to enhance our engagement with, and contribution to, the regional financial services community."Clyde & CoClyde & Co's Middle East financial services practice was described in 2008 by independent legal sector directory Legal 500 as “a potent force in the banking and finance arena.” The subsequent 2009 edition noted that Clyde & CoClyde & Co represents many of the most influential banks in the region. Clyde & CoClyde & Co is also renowned internationally for its insurance sector expertise.
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About DIFC
The Dubai International Financial CentreDubai International Financial Centre (DIFCDIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just four years, over 800 firms have registered at DIFCDIFC. They operate in an open environment complemented with world-class regulations and standards. DIFCDIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.
Clyde & CoClyde & Co spokesperson:
Ashley Painter,
Head of Middle East Banking & Finance practice,
Clyde & CoClyde & Co LLP
email: Ashley.Painter@clydeco.ae
Media enquiries:
Shaima Al Zarouni
Assistant PR Manager
Dubai International Financial Centre
Tel: +971 4 362 2432
E-mail: shaima.alzarouni@difc.ae
Iman Ahmad
Regional Media Relations Manager
Dubai International Financial Centre
Tel: +971 50 2058021
E-mail: iman.ahmad@difc.ae
Nova Ghadri
Media Executive
Dubai International Financial CentreDubai International Financial Centre
Tel: +971 4 362 2499
E-mail: nova.ghadri@difc.ae
© Press Release 2009
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