With the inauguration of its regional headquarters, global consulting giant Alvarez & Marsal (A&M) is bringing its trademark unbiased, action-focused approach to the Saudi Arabian market. The company’s managing director in the Middle East, James Dervin, conveyed A&M’s commitment to fostering growth and transformation within this dynamic marketplace.
Dervin shed light on the company’s straightforward strategy in Saudi Arabia, which is centered around converting strategic planning into tangible results and performance. He highlighted that the groundwork for the regional headquarters had been laid about a year prior, ensuring compliance with all local requirements.
The company’s expansion within Saudi Arabia and the growth of its service areas underscore the natural progression towards establishing a regional base, particularly in light of the Saudi government’s policy to engage more closely with businesses that have a physical presence in the Kingdom.
A&M distinguishes itself through its hands-on approach to business challenges, according to Dervin, who emphasized the firm’s unique position in the market as pragmatic problem-solvers, rather than auditors or mere theorists.
The firm’s services include a spectrum that addresses varying degrees of business underperformance, from mild cases to extreme distress. Dervin pointed out that A&M is equipped to offer both advisory and executive support, filling roles that competitors may not offer, such as chief revenue office and chief financial officer.
Dervin also praised Saudi Arabia’s progressive bankruptcy law and the evolving sophistication of its capital markets, which align with the ambitions of Vision 2030 and entice foreign investment. He underscored the country’s legislative developments as a factor in creating an attractive business landscape.
Bryan Marsal, A&M’s CEO, recently echoed the sentiment that Saudi Arabia’s comprehensive transformation is fueling the demand for the firm’s specialized services, with a focus on problem-solving and a vested interest in outcomes.
In line with Vision 2030, A&M is actively supporting Saudi youth employment initiatives, such as the Bidayah Graduate Program, which provides graduates with diverse experience across the business sector. Dervin expressed pride in the program and A&M’s role in nurturing the professional growth of young Saudis.
A&M envisions further partnerships with local educational institutions to empower new graduates, with details to be shared in the future. As the company expands in Saudi Arabia, Dervin acknowledges the vital contribution of young Saudi professionals to the firm’s and the country’s prosperity.
The establishment of A&M’s regional headquarters is part of a larger trend, with over 180 prominent international companies setting up bases in Riyadh, including tech giants and major organizations, in response to Saudi Arabia’s strategic vision and business-friendly policies.