Franco-American investment bank Lazard Inc., which dates back to 1848, announced the launch of an office in Abu Dhabi Global Market (subject to regulatory approval) and the formal designation of the emirate as the company’s main financial advisory hub in the UAE. The decision is logical: Abu Dhabi controls about $1.7 trillion in assets through a triad of sovereign wealth funds, — ADIA, Mubadala and ADQ, — and has become a key negotiating platform for global M&A, capital markets and restructurings, Lazard has reported.
The choice of the emirate reflects a shift in power on the global financial map: while London and Hong Kong struggle with regulatory and political pressure, Gulf capitals are luring bankers with wealth fund deals and a frenetic demand for IPOs. For Lazard, the new office is not just a geographic location; it is access to a giant pool of liquidity that has financed the largest transactions from energy to technology in the last three years.
Team and strategy: local expertise
The expansion has been led by Hussain Altajir, former head of Global Banking at HSBC Dubai, who has over 20 years of experience in GCC deals. Altajir will work in tandem with Sarah Al Suhaimi, chairwoman of MENA, and Wassim Al Khatib, CEO of Lazard Middle East Financial Advisory, building relationships with government agencies, family offices and corporates in the emirate.
The UAE has become a “hot spot” for investment bankers: Adnoc Gas, Parkin and PureHealth have already debuted on local exchanges in 2024, and sovereign wealth funds have stepped up privatization programs. Lazard expects to advise both sellers and buyers in these processes, offering a suite of services from equity stories to geopolitical analysis. Additionally, the bank plans to increase its restructuring practice, given that more and more MENA companies are reviewing debt portfolios against the backdrop of high US rates.
Positioning in MENA: Synergy with ADGM
Last year, Lazard was licensed for a regional HQ in Riyadh, but Abu Dhabi was chosen as the “think tank” for consulting in the UAE due to ADGM’s mature infrastructure, English law and deep private equity pool. The two platforms will complement each other: Riyadh will provide access to Vision2030 mega-projects, and Abu Dhabi to international deals and global LPs placing capital through ADIA and Mubadala.
Analysts expect Lazard’s presence to intensify competition among boutique banks already operating in DIFC and ADGM, from Rothschild&Co. to Evercore. But the emirate’s unique client profile—from energy champions to AI holdings G42—creates enough room for all players. For Abu Dhabi, the arrival of an investment bank with a 175-year history is another touch to the city’s reputation as a global financial center, standing on a par with New York and Singapore for big deals and strategic advice.