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

Alvarez & Marsal has added a new member to its mergers and acquisitions team in the United Arab Emirates, with the appointment of Uthman Al-Basri as Managing Director in Abu Dhabi. Al-Basri has an extensive background, boasting over 15 years of experience in advising clients on significant transactions, including the establishment of First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Saudi National Bank (SNB), and Saudi Awwal Bank (SAB).

Beyond these accomplishments, Al-Basri has also overseen cross-border acquisitions in areas such as Turkey, North Africa, and Central Asia. His expertise extends to major insurance mergers and acquisitions in Saudi Arabia specifically. Within the financial services sector, Al-Basri specializes in buy-side and sell-side financial due diligence, vendor diligence, support for sale and purchase agreements, and preparing for capital markets activities.

Al-Basri’s background includes previous roles at KPMG as a Partner in the Transaction Services practice and leading financial services mergers and acquisitions at Deloitte. When discussing his transition to Alvarez & Marsal, Al-Basri highlighted the fast-paced financial services markets within the Gulf Cooperation Council (GCC) region. He emphasized the growing complexity present across various sectors, such as banking, insurance, asset management, and fintech. Al-Basri noted that Alvarez & Marsal’s integrated model, which is built on deep industry knowledge and functional expertise, aligns well with the evolving demands within the M&A market.

Alvarez & Marsal, a global consulting firm headquartered in New York with a workforce of over 10,000 employees worldwide, continues to expand its Transaction Advisory Group. With approximately 1,200 professionals across 45 offices globally, the group focuses on providing valuable insights and support for clients navigating complex deals.

Paul Aversano, the Managing Director and Global Leader of the Transaction Advisory Group, emphasized the addition of Uthman as a demonstration of the firm’s dedication to enhancing capabilities and establishing a local presence in key economic hubs. The objective is to assist clients in unlocking cross-border deal value while managing risks within an increasingly intricate market environment.

Ali Anwar, the Managing Director and Middle East Leader of the practice, highlighted the Middle East’s position as a vibrant investment destination. The region is experiencing continual economic growth, ambitious diversification initiatives, and regulatory developments necessitating agile responses. Uthman Al-Basri’s appointment further reinforces Alvarez & Marsal’s commitment to providing senior-level guidance within the region, positioning the firm to advise clients on complex and high-profile transactions effectively.

In conclusion, Alvarez & Marsal’s strategic move to bolster its M&A team in the UAE underscores the firm’s proactive approach to meeting the evolving needs of clients in the dynamic and competitive landscape of mergers and acquisitions. Uthman Al-Basri’s wealth of experience and expertise will undoubtedly enhance the firm’s capacity to deliver tailored solutions and support to clients seeking to navigate intricate deal structures and maximize value across borders.