Cleveland-founded Squire Patton Boggs has hired top corporate and M&A attorney Omar Momany as a partner in Dubai.
Momany was previously a partner at Baker McKenzie in Dubai for eight years, where he led its UAE Corporate practice. He has practiced in the region for more than 20 years.
Momany’s addition is part of a recent push by Squire Patton Boggs into the Middle East. In May, the firm added Nima Fath, a financial services partner, who previously led the Financial Markets practice for the Middle East at Jones Day, to its Dubai team. The firm now has 25 lawyers across the United Arab Emirates.
Despite a global slowdown in deals, Squire’s corporate team has been busy, said Gassan A. Baloul, co-chair of the firm’s Middle East practice.
“Omar has clients that he’s bringing with him, but we have more work than we can handle,” Baloul said. “We need Omar and we’re also hiring a few junior associates to assist.”
In March, Squire Patton Boggs announced a Cooperation Agreement with the Law Office of Looaye M. Al-Akkas in Saudi Arabia, after terminating an affiliation with Khalid Al-Thebity Law Firm, another Riyadh-based law practice.
New laws in the region will prevent non-Saudi firms from operating through affiliations with Saudi practices and will allow them to operate directly in the Kingdom.
Squire Patton Boggs will open its law office in Saudi Arabia once its license to operate clears, which they expect will happen in the next month, Baloul said.
“Looking at it objectively, I can see how much money is being poured into Saudi Arabia, or money coming from Ukraine and Russia into the UAE,” Baloul said. “Things are going to get much crazier after the bad patch is over.”
Squire made $1.162 billion in global revenue last year, the firm said. It currently has more than 40 offices in 21 countries.
Momany’s departure from Baker McKenzie follows tensions in its Middle East practice. In September last year, the firm
The Middle East and Africa have generated more than 800 deals worth $54.7 billion so far this year, according to Bloomberg data. The UAE, Israel and Saudi Arabia are its largest three regions. M&A and capital markets are among the most lucrative practice areas for major law firms.
The Middle East has been popular for global law firms. Kirkland & Ellis and Sullivan & Cromwell have grabbed the largest UAE market share over the year, according to Bloomberg data.
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