Norton Rose Fulbright > Dubai, United Arab Emirates > Firm Profile

Norton Rose Fulbright
4TH FLOOR, GATE PRECINCT, BUILDING 3
DUBAI INTERNATIONAL FINANCIAL CENTRE
PO BOX 103747, DUBAI
United Arab Emirates

United Arab Emirates > Banking and finance: Financial services regulation Tier 1

Norton Rose Fulbright‘s team has ‘profound experience in regulatory affairs and a knowledge of best practices and regulatory expectations’. The team covers traditional financial services, fintech and cryptocurrency mandates, and the group also assists financial institutions with compliance and regulatory regimes, and acts for corporates on investigations and allegations by regulatory bodies. Matthew Shanahan brings in-house regulatory expertise to bear on a number of complex instructions for domestic and international clients. Counsel Andre Abou Aad handles a range of financial regulatory issues. Junior associate Hasanali Pirbhai is a strong supporting presence on a number of matters, and counsel Karl Masi joined the team in early 2024.

Practice head(s):

Matthew Shanahan

Testimonials

‘Extensive experience with regulatory frameworks in the Dubai International Financial Centre.’

‘Profound experience in regulatory affairs, knowledge of best practices and regulatory expectations, solution-oriented by focussing on the best risk-sensitive outcome for the client, in consideration of the specific circumstances and characteristics of the client.’

‘Matthew Shanahan has in depth understanding of the banking industry and is responsive in providing advice.’

‘Matthew Shanahan’s advice is comprehensive, practical, straightforward. The memo prepared by Matt and his team was user friendly and praised by our business and operational teams.’

‘The team remains extremely reachable. They have been prompt and constructive in the advice provided throughout our engagement with the firm.’

‘Pragmatic and reasonable in their approach with dealing with advice. Very prompt in responding and reachable. Open to constructive challenge’.

‘Highly professional and responsive. Practical knowledge of the industry and highly qualitative outputs.’

‘Matthew Shanahan is a highly skilled ex regulator with a high level of expertise. Hasanali Pirbhai is an excellent performer, responsive, and possessing great regulatory knowledge.’

Key clients

UBS

IG Limited

RJ O’Brien

Goldman Sachs

CME Group

LSEG

First Global Capital Limited

Bybit

Chimera Investment

Work highlights

  • Advised OKX on its market entry into Dubai.
  • Advising Bybit on its successful application for a Minimum Viable Product (MVP) Preparatory License from Dubai’s Virtual Assets Regulatory Authority (VARA) and its ongoing application for the Full Market Product (FMP) licence.

United Arab Emirates > Dispute resolution: compliance and investigations Tier 1

Norton Rose Fulbright's team has a strong knowledge of the local and regional regulatory landscape and advises clients on sensitive and complex investigatory proceedings as well as providing compliance advice. The firm has a wealth of experience representing clients in response to investigations by bodies including the Dubai Financial Services Authority, Financial Service Regulatory Authority and Abu Dhabi Global Market regulator, and are also well positioned to carry out investigations regarding issues including harassment and discrimination allegations. Matthew Shanahan handles contentious and non-contentious mandates, with a strong focus on white-collar crime, anti-money laundering, and other financial crimes, and is praised for his 'timely and sound guidance in a multitude of different subject matters'. Associate Hasanali Pirbhai is also highly active in complex regulatory investigations and enforcement actions. Orlando Vidal  left the firm.

Practice head(s):

Matthew Shanahan

Other key lawyers:

Testimonials

‘Extensive experience in regulatory matters in the Dubai International Financial Centre.’

‘Pragmatism in applying the law to the specific circumstances and needs of the client, with a view to achieve the best risk-sensitive outcome.’

‘The team is very experienced and knowledgeable. Pragmatic and constructive in the advice. Easily reachable and ready to engage even at short notice The collaboration is extremely positive and constructive.’

‘Great understanding of the financial services industry and related regulatory environments . The team is always available and provides timely guidance and assistance.’

‘Matthew Shanahan is always providing timely and sound guidance in a multitude of different subject matters . He goes out of his way to assist.’

Work highlights

  • Represented an ex-senior director of a private equity firm in ongoing regulatory investigations in numerous jurisdictions.

United Arab Emirates > Investment fund formation and management Tier 1

A near-unrivalled one-stop shop due to its ability to act on fund formation, execution and investments, Norton Rose Fulbright‘s client roster includes sovereign wealth funds, investment holding companies, and financial institutions. The practice is led by Zubair Mir and Geoffroy Hermanns, who stand out for their knowledge of the market and wider region. Matthew Shanahan adds expertise in regulatory knowledge. Recently, the group has acted on a range of Shari-ah compliant sub-funds, the establishment of an array of sector-focused funds, particularly energy, and assisted with major investments into funds. The team is lauded for it’s ‘proficiency across the ranks’, and associate Shakir Mogalia notably stands out as an integral supporting presence on multiple mandates, working across a range of asset classes such as private equity funds, real estate funds, and debt funds.

Practice head(s):

Zubair Mir; Geoffroy Hermanns

Other key lawyers:

Testimonials

‘The team is experienced, resourceful and very knowledgeable.’

‘Geoffroy Hermanns is very knowledgeable and experienced. His turn around time is beyond exceptional. Always happy to take calls at any time and ready to provide advice over and beyond the topic at hand.

‘We turn to the NRF funds team for their full range of capabilities in investment funds, particularly the launch and transactional phases – they manage our most strategic and sensitive cross-border transactions. The team stands out for their proficiency across the ranks – from partner to associate, each individual is responsive, concise and provides commercially sound advice.’

‘They are undoubtedly one of the best funds teams in the Middle East.’

‘Outstanding service all around, Zubair is delivery and solution-focused; a hugely experienced adviser.’

‘Zubair is the head of the practice. He is practical, commercial and focussed on achieving the best results! He is also extremely collaborative and knows how to develop client relationships.

‘Geoffroy quickly grasps our needs and is committed to ensuring we navigate any potential issues quickly! He is known for his responsiveness and we trust his advice whole-heartedly.’

Key clients

Chimera Investment / Capital

Royal Group

G42 Asset Management

Mashreq Capital

Arqaam Capital

National Bonds Corporation

KHK Partners

Arise International

Bahrain Mumtalakat

Credit Suisse

Emirates NBD Asset Management

EFG Hermes

Dubai Islamic Bank

International Holding Company

Work highlights

  • Advised Chimera on the establishment of three additional Shariah-compliant sub-funds as well as the first non-Shariah-compliant sub-fund for an onshore public fund pursuing an ETF (exchange traded fund) strategy that is regulated by the UAE Securities and Commodities Authority (SCA) and is being currently listed.
  • Advised on the establishment of Africa Transformation and Industrialization Fund Limited Partnership (ATIF), a closed-ended, exempted fund currently registered with the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).

United Arab Emirates > Banking and finance: Corporate finance (including Islamic lending) Tier 2

Advising on the full range of conventional and Shariah-compliant financing deals, Norton Rose Fulbright regularly acts for some of the largest regional banks and financial providers, and show notable proficiency in real estate, logistics and energy. Practice head Mohammed Paracha is a competent cross border adviser whose recent work highlights include financings for major property, hospitality, residential and office space developments, while Nicholas Robinson is a key figure for both regional and international banks and possesses a wide portfolio of work. Robin Balmer advises on a variety of project financing mandates, while counsel Seya Rahnema has a considerable Islamic financing offering. A spate of hires and partner relocations have strengthened the Dubai offering, with Hamed Afzal – previously of Akin – and Marc Hamilton joining in November 2022 and March 2023, respectively. Between them, they bring strong expertise in debt capital markets and regional asset financing.

Practice head(s):

Mohammed Paracha

Other key lawyers:

Testimonials

‘The firm provides a hands on approach, value add services, and proactiveness.’

‘I work with Robin Balmer. He brings a unique commercial acumen and understanding of local law requirements to the table. He is very practical and solution oriented. He has attained the rank of a trusted advisor within my business.’

Key clients

HSBC

Abu Dhabi Commercial Bank

Arab Petroleum Investments Corporation

ABC International Bank PLC

SMBC International Bank

Mashreq bank

National Bank of Egypt

Emirates NBD

First Abu Dhabi Bank

Société Générale

BNP Paribas

Commercial Bank of Dubai

Citi Bank

Global Trading and Shipping WLL

Abu Dhabi Islamic Bank

Work highlights

  • Advising HSBC Advising on a US$1.1bn sustainability linked dual tranche Murabaha financing to Al Ahli United Bank in Bahrain.
  • Advising APICORP on a dual tranche Murabaha financing to Al Ahli United Bank in Bahrain.
  • Advising ABC International Bank PLC on a bespoke transaction to split an existing £143m real estate development facility into a senior and mezzanine tranche.

United Arab Emirates > Commercial, corporate and M&A Tier 2

The 'cohesive, well managed, thoughtful, experienced and consistent' team at Norton Rose Fulbright attracts instructions from regional government entities, sovereign wealth funds, and established industry names. The group handles a considerable volume of big ticket M&A and cross-border investment deals, alongside excellent corporate restructuring and joint venture work. Practice head Adjou Ait Ben Idir has a core focus on M&A in the energy, infrastructure, aviation and fintech sectors. The 'excellent' Zubair Mir is lauded for his ability 'to find commercial solutions to the most complex issues' and is well regarded for his strength in private equity. Kayaan Unwalla's strong understanding of defence and technological developments is of great benefit to clients in a range of sectors and Jonathan Burton is particularly accomplished at strategic joint ventures and foreign direct investment mandates. Shahrzad Askarpour is noted for her involvement in commercial and corporate matters.

Practice head(s):

Adjou Ait Ben Idir

Testimonials

Zubair Mir is a pleasure to work with and has deep knowledge of the local and regional markets.’

‘Zubair has an ability to quickly understand a client’s needs, and often connects clients to relevant parties even when not asked to, this adds tremendous value beyond the legal element aspect. This is what distinguishes dealing with Zubair.’

‘Knowledgeable team with great personalities. Have good tech partners to recommend in region.’

‘The team is cohesive, well managed, thoughtful, experienced and consistent. Key relationship person at partner level is Zubair, who has infinite wisdom and experience in the regional acquisitions market. He genuinely cares about transactions and is always helpful in finding solutions. The team is very experienced and has a commercial focus. Shazi Askarpour stands out within the team for her astute mindset and superior client engagement. ’

‘Shazi is a hidden gem. It is rare to find legal counsels who are both commercial and experts in their field.’

‘Zubair is simply excellent. He is thorough, knowledgeable and manages to find commercial solutions to the most complex issues.’

‘Adjou Ait Benidir has exceptional leadership skills, is very responsive and a pleasure to deal with.’

‘ Highly accessible, results-oriented, skilled lawyers who grasp their clients’ needs.’

Key clients

Royal Group

International Holding Company (IHC)

Total SA

Tawazun

Arise IIP

Public Investment Fund

Saudia Airlines

Pure Health

AIG

AXA XL

Injazat

bp

Howden

IHC Digital

Dubai Islamic Bank

Africa Transformation & Industrialization Fund Limited Partnership

Dar Global

OKX

bp

KHK Partners

Work highlights

  • Advised UAE’s largest healthcare platform and Alpha Dhabi subsidiary, Pure Health, on its US$500m investment in US healthcare provider, Ardent Health Partners LLC.
  • Advised International Holding Company PJSC on its acquisition in the renewable energy sector through its subsidiary International Energy Holding — the c. AED 1.8 billion acquisition of a 50% stake in Turkish clean energy market leader, Kalyon Enerji.
  • Advised International Holding Company PJSC on its capital investment of AED 734 million (USD 200 million) in Lulo Colombia S.A, through its subsidiary IHC Digital.

United Arab Emirates > Dispute resolution: arbitration and international litigation Tier 2

Norton Rose Fulbright‘s team has ‘the confidence, experience and skills to undertake difficult cases’. It draws on the expertise of its deep bench to handle high-value local and international dispute resolution, operating across banking, real estate, hospitality, construction M&A, and energy and infrastructure – among others. The team also includes a number of certified mediators. Deirdre Walker handles all forms of litigation, mediation and arbitration and also assist with DFSA regulatory and internal investigations and Yaroslav Klimov is routinely sought out by CIS countries for representation in disputes. Shabnam Karim is a key figure for healthcare malpractice, D&O, and cyber liability cases, and newly promoted partner Aarti Thadani is a key name for construction litigation. Nick Sharratt joined the practice from Stephenson Harwood Middle East LLP in October 2023 and now leads the practice following Paul Stothard‘s move to the firm’s London office. Orlando Vidal left the firm.

Practice head(s):

Nick Sharratt

Testimonials

‘Excellent team including partners and associates. Perfect communication skills as well. ’

‘They have the confidence, the experience and the skills to undertake difficult cases.’

‘ Extraordinary strength in depth. Phenomenally dedicated and hard-working for their clients.’

‘ Deirdre Walker is a tough litigator who plays hard ball. Rarely takes prisoners.

‘Partners are ably assisted by up and coming senior associates.’

Key clients

Dmitry Glukhov

KS GOK LLC

United Arab Emirates > Insurance Tier 2

Cyber incident response, financial lines claims, and medical malpractice remain key components of the practice at Norton Rose Fulbright. Shabnam Karim is proficient in D&O insurance and professional lability coverage matters, while the ‘knowledgeable and extremely responsiveAdjou Ait Ben Idir is adept in regulatory matters. They co-lead the team, which also includes Rebecca Neville, an experienced figure in business interruption and financial lines claims, and Ivana Cicic, who is skilled at healthcare malpractice claims.

Practice head(s):

Shabnam Karim; Adjou Ait Ben Idir

Other key lawyers:

Testimonials

‘The team has good expertise and are willing and ready to assist us on M&A transactions.’

‘We see Adjou Ait Ben Idir as an industry leader and our go-to lawyer for the region. She is very knowledgeable and extremely responsive to our requests.’

Key clients

AXA-XL

American International Group (AIG)

Munich Re

Beazley Group

Euclid

Marsh

GCIC

Liberty

Berkshire Hathaway

Chubb

Work highlights

United Arab Emirates > Capital markets Tier 3

Norton Rose Fulbright advises on structured products, equity-linked issuances, securitisations, and a number of Sukuk issuances for large financial players. The group also closely collaborates with colleagues across its network to act on global equity offerings for multinational companies. Zubair Mir is sought out by clients for transactional advice. Hamed Afzal has notable expertise in both the equity and debt space and has a strong understanding of a number of regional markets.

Practice head(s):

Hamed Afzal

Other key lawyers:

Key clients

ACWA Power

Haykala Management Company LLC

Apex Group

Ashmore Investment Saudi Arabia

Dar Global PLC

Work highlights

  • Advised as issuer in relation to ACWA Power’s Sukuk issuance under its SAR5bn sukuk issuance programme and are also currently advising it in respect of amendments required to a previous Sukuk issuance.
  • Advised Dar Global on its pre-IPO restructuring and direct listing on the London Stock Exchange.
  • Advising Haykala as arranger in relation to Azmeel Construction Company’s SAR5.4bn debt restructuring via a perpetual Sukuk issuance.

United Arab Emirates > Construction Tier 3

Norton Rose Fulbright's construction practice is led by Nicholas Kramer, whose recent caseload includes airport, district cooling, PPP, and wind development projects. Mark Berry is knowledgeable of the natural resources sector, notably mining construction and infrastructure, while Anastasia Kastelskaya is active in oil and gas matters. Knowhee Myung is also a key team member.

Practice head(s):

Nicholas Kramer

Other key lawyers:

Mark Berry; Anastasia Kastelskaya; Knowhee Myung; Aarti Thadani; Ahmed Bobat

Key clients

Emirates

Emirates District Cooling (Emicool) LLC

Deyaar

Change Foods

Boston Consulting Group

Abu Dhabi Ports

Ochre

Aldar

ACWA Power

IFC

HSBC

Emirates National Investment

Tibah Airports Development Company Limited (Tibah)

Metito

Marafiq

Work highlights

  • Advising Emirates on the drafting of contract documents for the design and construction of a new engineering and maintenance facility at Dubai World Central Airport.
  • Advising Emicool on its master concession agreement with Dubai World Trade Centre for the provision of district cooling services for Dubai EXPO.
  • Advising Deyaar on the drafting of a full suite of standard form contracts.

United Arab Emirates > Infrastructure and projects (including project finance) Tier 3

Capable of handling the financing, development, construction and, sale and purchase of a range of projects - spanning renewables, utilities, social infrastructure, and transport - Norton Rose Fulbright is a go-to for a range of clients, especially for ‘first-of-its-kind’ mandates. Saudi Arabia is a hotspot of activity for the group, where it acts on critical infrastructure developments such as car parks, airports and water treatment facilities, as well as advising industry players on their interactions with the National Renewable Energy Program. Practice head Angela Croker has a vast knowledge of the region and acts as project finance counsel to a long list of financial institutions, corporations and governments. Fellow co-chair Nicholas Kramer is noted for his regulatory and contractual negotiating capabilities, which he deploys in high-value, complex developments. Robin Balmer is chiefly noted for his work in Saudi Arabia, specifically with regards to water, solar, and transport sector projects. Hesa Alsaad, who was promoted to senior associate in April 2023, is also recommended.

Practice head(s):

Angela Croker; Nicholas Kramer

Other key lawyers:

Testimonials

‘The team is highly professional and pragmatic. Do not tend to take a points scoring approach, but rather do what it takes to make things happen.’

‘Angela Croker is excellent.’

 

Key clients

Emirates District Cooling (Emicool)

Al Fransi Bank

Bank Al Jazira

Saudi Awwal Bank – SAB (previously SABB)

ACWA Power

Jinko

Metito

Power & Water Utility Company for Jubail & Yanbu (Marafiq)

Abu Dhabi Islamic Bank

National Bank of Kuwait

Ahli United Bank

Abu Dhabi Commercial Bank

Work highlights

  • Advising in relation to financing arrangements provided by The Saudi British Bank to Shuaibah Three Water Desalination Company in relation to the Shuaibah 3 power generation and sea water desalination project in the Kingdom of Saudi Arabia.
  • Represented the commercial and Islamic financial institutions on the US$490m and SAR285m refinancing of the 900MW independent power and water plant in the town of Shuaibah, near Jeddah, Saudi Arabia.
  • Addvising Emicool on their master concession agreement with Dubai World Trade Centre (DWTC) for the provision of district cooling services for Dubai EXPO.

The firm: Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 4000 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa.

Areas of practice: Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com

Offices: We have offices in the world’s most important business, financial and regulatory centres and are active in strategically important growth markets. Our offices are located in Amsterdam, Athens, Austin, Bahrain, Bangkok, Beijing, Brisbane, Brussels, Calgary, Canberra, Cape Town, Casablanca, Dallas, Denver, Dubai, Durban, Frankfurt, Hamburg, Hong Kong, Houston, Istanbul, Jakarta (in association with Norton Rose Fulbright Australia), Johannesburg, London, Los Angeles, Luxembourg, Melbourne, Mexico City, Milan, Minneapolis, Monaco, Montréal, Moscow, Munich, New York, Ottawa, Paris, Perth, Piraeus, Port Moresby, Québec, Rio de Janeiro, Riyadh (in association with Mohammed Al-Ghamdi Law Firm), San Antonio, San Francisco, São Paulo, Shanghai, Singapore, St Louis, Sydney, Tokyo, Toronto, Vancouver, Warsaw and Washington, DC. In Africa, we have alliances with firms in Kenya, Uganda, Burundi and Zimbabwe

Number of partners (worldwide): 1,000+
Number of other fee-earners (worldwide): 2,000+
Total staff: 7,500+

Global key contacts
Financial institutions: James Bateson
Energy: Anne Lapierre and John Mauel
Infrastructure, mining and commodities: Nick Merritt
Transport: Harry Theochari
Technology: Nick Abrahams
Life sciences and healthcare: Stacey Martinez and Randy Sutton

Department Name Email Telephone
Financial institutions Patrick Bourke
Energy Charles Whitney
Infrastructure, mining and commodities Joanne Emerson Taqi
Transport Harry Theochari
Technology and innovation Sean Murphy
Life sciences and healthcare Huw Evans
Number of partners (worldwide) : 1,200+
Number of other fee-earners (worldwide) : 3,000+
Total staff : 7,500+
Other offices : Amsterdam
Other offices : Athens
Other offices : Austin
Other offices : Bahrain
Other offices : Bangkok
Other offices : Beijing
Other offices : Bogotá
Other offices : Brisbane
Other offices : Brussels
Other offices : Calgary
Other offices : Canberra
Other offices : Cape Town
Other offices : Caracas
Other offices : Casablanca
Other offices : Dallas
Other offices : Dar es Salaam
Other offices : Denver
Other offices : Durban
Other offices : Frankfurt
Other offices : Hamburg
Other offices : Hong Kong
Other offices : Houston
Other offices : Istanbul
Other offices : Jakarta (in association with Norton Rose Fulbright Australia)
Other offices : Johannesburg
Other offices : London
Other offices : Los Angeles
Other offices : Luxembourg
Other offices : Melbourne
Other offices : Mexico City
Other offices : Milan
Other offices : Minneapolis
Other offices : Monaco
Other offices : Montréal
Other offices : Moscow
Other offices : Munich
Other offices : New York
Other offices : Ottawa
Other offices : Paris
Other offices : Perth
Other offices : Piraeus
Other offices : Port Moresby
Other offices : Québec
Other offices : Rio de Janeiro
Other offices : Riyadh (in association with Mohammed Al-Ghamdi Law Firm)
Other offices : San Antonio
Other offices : San Francisco
Other offices : São Paulo
Other offices : Shanghai
Other offices : Singapore
Other offices : St Louis
Other offices : Sydney
Other offices : Tokyo
Other offices : Toronto
Other offices : Vancouver
Other offices : Warsaw
Other offices : Washington, DC
Other offices : In Africa, it has alliances with firms in Kenya, Uganda, Burundi and Zimbabwe.