Ashurst boosts global financial regulatory practice with partner hire in Saudi Arabia 

Global law firm Ashurst announces the appointment of Raheel Butt as partner in the financial regulatory practice, based in Saudi Arabia, as the firm continues to expand its capabilities in the Middle East.

With over 17 years' experience, including over a decade on the ground in Saudi Arabia, Raheel brings a wealth of expertise in the financial services sector. He regularly advises banks, asset managers, fund managers, brokers, custodians, and investors on Saudi regulatory compliance, regulatory applications, and product launches. His expertise includes structuring CMA-compliant investment funds with a particular focus on real estate funds, guiding venture capital investments, Shari'ah-compliant solutions for structured investments and private debt investments, capital raisings, and regulatory change projects, all supported by a strong foundation in financial services regulatory practice.

Jake Green, Global Head of Financial Regulatory at Ashurst, commented: "We are thrilled to welcome Raheel to Ashurst. His deep understanding of the Saudi market and his expertise in financial regulatory matters will be instrumental as we continue to expand our footprint in the Middle East. Raheel's extensive knowledge of Saudi financial services laws, regulations, and practices, combined with his innovative approach to Shari'ah-compliant investment structures, makes him a vital asset to our team. His appointment is a perfect fit with our strategic goals and we are confident that he will play a crucial role in driving the continued success and growth of our global financial regulatory practice."

Faisal Baassiri, Managing Partner of the firm's Saudi offices, added: "The Saudi legal market is undergoing substantial growth, driven by a dynamic regulatory environment and the rising demand for compliance and advisory services. Raheel's experience and deep understanding of the Saudi market, combined with his proven track record in advising financial institutions, will be crucial in meeting our clients' needs in this dynamic market."

Raheel said, "I am excited to join Ashurst and contribute to the firm's growth in Saudi Arabia. Ashurst's global reputation is impressive and perfectly aligns with my professional values. I am looking forward to leveraging my experience to help our clients navigate the developing regulatory landscape in Saudi Arabia."

Raheel's appointment is the latest strategic addition to Ashurst's rapidly expanding KSA offering. The Riyadh team has grown significantly in the last 12 months, with the recent relocations of Martyn Rogers, a senior banking partner with over 30 years experience, and Tammam Kaissi, an Arabic speaking litigation partner. Their arrival followed the appointment of Leonid Stoliarski, an M&A and ECM specialist, who joined as a local partner from Kirkland & Ellis in London. Combined with the firm’s existing well-established Projects and Project Finance practice led by partner Bilal Rana, who has a deep experience of practicing in KSA, and Saudi Managing Partner Faisal Baassiri’s Shari'ah-compliant corporate finance and wealth management practice, the firm can provide a truly cohesive and full service offering.