EY launches its legal practice EY Law with a 10-member team in Saudi Arabia

EY launches its legal practice EY Law with a 10-member team in Saudi Arabia

EY, one of the Big Four accounting firms, has launched a new legal team in Saudi Arabia, consisting of 10 members. The team will be based in Riyadh and provide legal advisory and support services to clients across the country. The team was formed through a combination of external hiring and internal transfers.

"EY aims to build a comprehensive one-stop-shop of multidisciplinary professional services in Saudi Arabia and the wider MENA region," said Fahad Al-Toaimi, Managing Partner of EY in Saudi Arabia. "Adding legal know-how is essential market for our plans in the region."

The new legal team at EY in Saudi Arabia offers a wide range of corporate and commercial law advisory services, including support for corporate transactions, mergers & acquisitions, regulatory advice, company formation, foreign direct investment, family offices, and government-owned entities. They will be providing legal advisory and support services to clients across the country.

EY Law, the legal arm of the accounting giant EY, has a global presence with over 3,400 legal professionals in more than 90 jurisdictions. EY Law first launched in the Middle East in Dubai in 2019, and the newly launched team in Saudi Arabia is the firm's second location in the region.

The newly launched legal team in Saudi Arabia will be led by Reema Aref, who has been appointed from within EY's ranks. She has spent the past four years working in corporate and tax law for EY in Riyadh and has over a decade of experience as a legal investigator in Saudi Aramco, as well as a tax and customs specialist in the Zakat, Tax and Customs Authority.

"EY Law provides companies with a one-stop-shop to help them to anticipate and navigate the increasingly complex legal environments of both the local and global economy. As I lead the development of this incredibly exciting newly formed legal practice, I look forward to consulting with local, regional and international EY clients across a broad range of legal matters," Reema Aref said.

Chris Sioufi, a Dubai-based partner who leads EY Law across MENA, said: "I look forward to working closely with Reema and our Saudi-based team as she sets out to build a truly world-class legal practice in one of the world's most dynamic and fast-growing markets."

Sioufi, an ex-Dechert partner, believes that with Reema's leadership and the team's experience, they will be able to serve clients effectively and provide them with high-quality legal services.

Out of the four Big Four firms, three of them now have a base in Saudi Arabia. EY's rival PwC entered Saudi Arabia's legal scene in 2021 through a partnership with Dr. Qaisar H Metawea Law Firm, a local boutique, while the fellow Big Four firm Deloitte has a small team in Saudi Arabia. KPMG, however, is yet to enter the Saudi law market.