HSF down to one partner in Abu Dhabi after Clydes secures Islamic finance hire
Clyde & Co has sealed the hire of Islamic finance partner Adil Hussain from Herbert Smith Freehills (HSF), leaving the firm with just one partner in Abu Dhabi.
August 18, 2014 at 07:23 PM
2 minute read
Clyde & Co has sealed the hire of Islamic finance partner Adil Hussain from Herbert Smith Freehills (HSF), leaving the firm with just one partner in Abu Dhabi.
Hussain joins Clydes as its new head of Islamic finance. He will be based in Abu Dhabi, and will work closely with Dubai-based finance partner Adrian Low and Riyadh corporate and finance partner Abdulaziz Al-Bosaily to strengthen the firm's regional Islamic finance offering.
The move leaves HSF's Abu Dhabi base with one partner, Alexander Currie, who is staffing the office alongside four lawyers.
HSF opened in the UAE capital in 2008 and last year sought to sublet half of its office space at its Al Sila Tower location.
Hussain joined HSF in 2009 after a year spent working as general counsel at City shariah-compliant investment bank Gatehouse Bank. He was based in Dubai before relocating to Riyadh in 2010 to launch HSF's finance practice in Saudi Arabia, before it ended its exclusive association with local firm Al-Ghazzawi Professional Association last August. He was made up as partner in 2011.
Hussain acts for local and regional banks on structuring and developing Islamic finance products, as well as on transactional matters for corporates and banks.
His hire takes Clydes' local office partner headcount to seven, while there are 39 partners now working in the region as a whole.
Hussain said: "The Islamic finance industry has experienced dramatic growth in recent years and is predicted to double in industry size by 2017. With the development of the market, I see a lot of potential, both from a regional perspective and an international point of view.
"I look forward to working alongside the existing Clyde & Co team to build upon its current client offering and strengthen the firm's international reach."
The news comes after former Eversheds Middle East regional chairman Christopher Jobson joined Clydes as a partner in Abu Dhabi in July.
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