Alvarez & Marsal enhances M&A team in UAE with Uthman Al-Basri

Alvarez & Marsal has recently enhanced its mergers and acquisitions (M&A) team in the United Arab Emirates by bringing on board Uthman Al-Basri as a Managing Director in Abu Dhabi. Al-Basri boasts more than 15 years of experience in guiding clients through significant transactions, which notably include the establishment of First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Saudi National Bank (SNB), and Saudi Awwal Bank (SAB).

During his career, Al-Basri has overseen cross-border acquisitions in regions such as Turkey, North Africa, and Central Asia, in addition to managing substantial insurance-focused M&A deals in Saudi Arabia. His area of expertise primarily revolves around financial services, encompassing aspects like buy-side and sell-side financial due diligence, vendor diligence, support for sale and purchase agreements, and readiness for capital markets.

Al-Basri made the transition to Alvarez & Marsal from KPMG, where he held the position of Partner in the Transaction Services department. Before this, he spearheaded financial services M&A projects at another renowned Big Four firm, Deloitte.

Explaining his decision to switch firms, Al-Basri expressed his perspective, emphasizing the significance of the Gulf Cooperation Council as a hub for robust financial services markets, characterized by increasing complexity in sectors like banking, insurance, asset management, and financial technology. He highlighted Alvarez & Marsal’s approach of fusing vast functional and industry-specific knowledge as a seamless match for meeting the prevailing and forthcoming M&A demands within the market.

By hiring Al-Basri, Alvarez & Marsal, a prominent consultancy based in New York with a global team of over 10,000 professionals, extends its Transaction Advisory Group’s reach. This group comprises approximately 1,200 experts stationed across 45 offices worldwide.

Paul Aversano, the Managing Director and Global Leader of the Transaction Advisory Group, underlined the recruitment of Uthman as a clear demonstration of Alvarez & Marsal’s unwavering dedication to adapting to market dynamics. The move underscores the firm’s commitment to expanding its capabilities and local presence in pivotal economic centers. This strategic approach aims to assist clients in optimizing cross-border deal value while navigating risks in an increasingly intricate market environment.

Ali Anwar, the Managing Director and Middle East Leader of the practice, emphasized the region’s status as a vibrant investment hotspot due to sustained economic progress, ambitious diversification strategies, and a rapidly evolving regulatory framework. Al-Basri’s addition to the team reinforces Alvarez & Marsal’s commitment to cementing a senior-led presence in the Middle East, positioning the firm at the forefront of guiding clients through intricate and high-profile transactions.