US-based leading global professional services firm Alvarez & Marsal (A&M) has opened new offices in Riyadh and Abu Dhabi as part of its Middle East expansion plans.
The company said that it intends to strengthen the regional market position. Further, the firm’s headcount in the region doubled to 116 last year and is projected to cross the 200 mark in 2023.
According to the company statement, “To support this growth, Mr. James Dervin has transferred from A&M’s London office to Riyadh and will be co-leading the region with Mr. Paul Gilbert in Dubai. Additionally, Mr. Faisal Shaikh (Dubai) and Mr. Hazim Almegren (Riyadh) have joined as Managing Directors within the Corporate Finance and Financial Services groups respectively.”
James Dervin Head – Performance Improvement Co-head – Middle East Alvarez & Marsal
“Abu Dhabi and KSA are drivers of progress in the region and beyond, each at different stages of development, with their own unique requirements. A&M fully understands the need to commit to these markets, hence our strategic decision to build locally-based teams. Mr. Faisal and Mr. Hazim’s joining further enhances our ability to develop bespoke solutions helping clients navigate challenges and capitalize on opportunities. Their backgrounds align with our operational heritage and will help to advance the team’s continued expansion and scope of offerings across EMEA.”
Mr. Dervin is an experienced business transformation practitioner and will lead A&M’s Performance Improvement business across the region and will spearhead the Firm’s expansion in Saudi Arabia and Abu Dhabi.
“Having successfully completed the complex restructuring of the NMC Group in less than two years, along with other recent high-profile cases, this expansion demonstrates our commitment to meet the demand for truly independent, different, and impactful solutions to complex, local, and cross-border concerns across multiple jurisdictions,” said Mr. Paul Gilbert, Head of Turnaround and Restructuring, Co-head of Middle East at Alvarez & Marsal.
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