Our Dubai-based Financial Services team provides a wide range of corporate, commercial and regulatory work focusing on the financial services market in the United Arab Emirates and the wider GCC region. Our team acts for:
Insurance and reinsurance: acting for (re)insurers, brokers, third party administrators and insurance consultants);
Wealth management: acting for investment platforms, asset managers, funds, issuers of financial products, financial advisors and FinTech companies; and
Regulators: advising on the development and implementation of new regulations for the insurance and financial services sectors.
Our team is recognised as the market leader for its work in the insurance and reinsurance sector. As one of the few teams specialising on this rapidly developing sector in the region, we are at the forefront of the developments in the market. We have:
Acted for more insurance sector players establishing in the DIFC than any other firm;
Advised on the largest and most complex M&A transactions for insurers in the region;
Advised on the largest bancassurance transactions in the region.
As an emerging market, the scope and breadth of the work available is vast, fast-moving and provides a wide variety of interesting and challenging work.
Key Duties and Responsibilities:
The establishment and licensing of new entities across the GCC (including in the DIFC, ADGM and QFC);
Registration of financial and insurance products for distribution in the UAE;
M&A transactions, including assisting with obtaining the relevant regulatory permissions for such transactions;
The establishment and licensing of distribution arrangements, including drafting bancassurance agreements and terms of business agreements with insurance brokers and financial advisors;
The development of new insurance and wealth management products;
Providing regulatory advice in relation to the day-to-day operations of our clients covering issues such as anti-money laundering, anti-bribery & corruption, conduct of business, change of control, authorisation of individuals to conduct regulated functions etc.
Assisting clients in responding to queries and investigations by regulators and in relation to internal investigations.
Qualifications, Skills and Experience:
The applicant must have a strong academic background, including a minimum of a 2:1 at a reputable university;
Legal training and post qualification experience gained at a reputable law firm with a strong reputation in the field of corporate insurance;
1 – 3 years post-qualification experience working on a range of financial services and regulatory matters with elements of Corporate and Commercial law with a focus on the the insurance and reinsurance sector or the wider financial services sector;
Experience of (or an understanding of) working with the specialist financial free zones – e.g. QFC, DIFC; and ADGM or with similar regulators outside of the region (e.g. the UK FCA and PRA);
Proven and strong drafting skills;
Arabic language skills (not essential);
A genuine interest in developing their long term career with a leading financial services practice in the Middle East; drive, enthusiasm and flexibility;
The ability to work well as part of a team as well as working well autonomously; and broad commercial awareness and an entrepreneurial nature.
Clyde & Co's first Middle East office was formally established over 25 years ago, following many prior years of client involvement in and with the region. Our regional offices work as an interconnected and cohesive unit in order to provide advice to clients from all over the world, as well as to regional corporate entities and governments, on their operations and interests throughout the Middle East. Our lawyers are supported by comprehensive in-house translation, government liaison, management and information services teams as we strive to provide first class professional service levels and insight to our clients.
We are one of the major international law firms in the GCC with around 190 specialist lawyers and paralegals, and 300 staff in total, operating as one unit across our regional office network: