The right move
Fox Rodney Search is an executive search firm focusing on legal searches in London, Europe and the Middle East. With the launch of a Dubai office in 2008, Fox Rodney now has a team dedicated to assisting clients and candidates in relation to recruitment in, or a move to, the Middle East. The Middle East practice is led by Omar Kabbani, a fluent Arabic speaker. Having lived in the Middle East for several years, he has first-hand experience of the cultural challenges that a candidate may face when contemplating a move to the region. Fox Rodney Search spoke to Ashley Painter, banking and finance partner at Clyde & Co in Dubai, about his move from London to Dubai
July 16, 2008 at 08:14 AM
4 minute read
Name: Ashley Painter
Law firm name: Clyde & Co
Position: Partner
Practice Area: Banking and finance
What was your main reason for moving to Dubai?
After 15 years in London, I wanted a change. Dubai was one of the few regions that had a young, dynamic and developing legal and business market. I also wanted to be part of something new and was therefore attracted by the establishment of the Dubai International Financial Centre (DIFC) in Dubai and the Qatar International Financial Centre. The DIFC is like a common law bubble in a civil structure and there are interesting comparisons and contrasts to the civil law which predominates elsewhere in the region. The legal and business approach is also quite different depending on what work you are doing and which institution you are dealing with. Legal work, specifically within the banking and finance sector, is especially challenging and exciting. Finally, I was also attracted by the weather!
Why did you opt for a job at Clyde & Co in the end?
Clyde & Co has been in the Middle East for 28 years and offered the best platform for expansion outside the magic circle or silver circle firms. Our Dubai office is one of the best-performing overseas offices and Legal 500 has recently ranked us top overall firm in the United Arab Emirates (UAE) for the fourth year running. We have on the ground capability and local law knowledge to conduct all domestic and international work ourselves and this combination is attractive to new recruits. We can not advocate in the local courts but we do advise our clients under UAE and/or Qatari law. The advantage of all this is that we do not need to outsource work.
How does working in Dubai match up to your expectations in terms of quality and quantity of work?
There is a lot of high quality work out here but there are a lot of deals that have a stop/start nature. The timing is different on deals here: they either move very quickly or very slowly and it takes a while to become accustomed to that. Dubai has expanded dramatically in the last five years and is now attracting even higher quality and more complex matters. Thus, there is demand for high quality lawyers and many very accomplished and well-known London lawyers have transferred to the region.
Can you give an example of an interesting piece of work you've recently completed at Clyde & Co?
I recently enjoyed working on a US$450m acquisition finance deal. It was the first private deal for Leighton Holding Ltd (one of Australia's leading construction contractors) which purchased a 45% stake in Al-Habtoor (one of the Middle East's biggest engineering firms) during the height of the credit crunch.
Despite the banks being wary of making investments at that time, we still managed to do it. I acted for the banks (HSBC, RBS, Abu Dhabi Commercial Bank and Mashreq Bank). I particularly enjoyed it because it was a deal within the construction sector which involved taking security and persuading the banks to take the risk and because, slightly unusually, it was a private deal.
What's the bedding-in period for a new lawyer in Dubai?
It takes anywhere between 6-8 months to familiarise yourself with local law and the local working culture. This may vary for lawyers who are solely English-qualified and who do not represent local clients. The process of settling in and securing accommodation and a driving licence, for example, can be time consuming but is made easier with the support of colleagues who have been through a similar experience.
Getting involved at an early stage in all that Dubai has to offer, such as socialising with colleagues, playing sport or travelling, also makes the process easier.
Is there anything that you miss about working in the City as a lawyer?
I do not miss anything specific about working as a lawyer in London. In truth, I have enjoyed my time here so much that I have never really considered what I miss.
How long did it take you to get used to a change in working hours?
I still find working on Sundays a bit odd, but having Fridays as a day of rest offsets it. Dubai really comes to life at night, mainly due to the weather as it is too hot during the day to go out shopping or to do anything active generally, especially during the summer months.
NewHorizonsJuly2008
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