Alvarez & Marsal Strengthens Presence in Saudi Arabia with New Regional Headquarters
Alvarez & Marsal (A&M) has solidified its commitment to Saudi Arabia by establishing its regional headquarters in Riyadh and initiating the Bidayah Graduate Program.
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The company’s CEO and co-founder, Bryan Marsal, emphasized A&M‘s dedication to the Kingdom’s Vision 2030. The Riyadh headquarters signifies a strong allegiance to Saudi Arabia‘s development goals, with A&M experiencing a sixfold increase in its local team size over the last year.
A&M’s expansion in Saudi Arabia encompasses various sectors, including banking, tax, healthcare, and disputes & investigations. This strategic decision aims to harness local expertise to foster sustainable growth and innovation.
The Bidayah Graduate Program has welcomed its first cohort of 13 talented Saudi graduates, selected from a competitive pool of candidates. These graduates are seen as future leaders in management consulting, embodying the Kingdom’s potential. Over a 12-month period, they will undergo intensive training, participate in live projects, and receive mentorship from industry veterans.
James Dervin, A&M’s Managing Director in the Middle East, and co-head of the region, highlighted that the graduate program is aligned with A&M‘s core principles of leadership, action, and results, aiming to nurture execution-focused leaders.
Bryan Marsal also noted the synergy between A&M’s robust service offerings and the dynamic market in Saudi Arabia. The firm is positioned to address complex challenges due to its practical, hands-on approach and absence of audit conflicts, making it a vital player in implementing Saudi Arabia’s Vision 2030 initiatives.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Employment grew for the 16th consecutive month as companies expanded.
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According to a recent PMI report, Qatar experienced its fastest non-energy sector growth in almost two years in June, driven by surges in both existing and new business activities.
The Purchasing Managers’ Index (PMI) headline figure for Qatar reached 55.9 in June, up from 53.6 in May, with anything above 50.0 indicating growth in business activity. Employment also grew for the 16th month in a row, and the country’s 12-month outlook remained robust.
The inflationary pressures were muted, with input prices rising only slightly since May, while prices charged for goods and services fell, according to the Qatar Financial Centre (QFC) report.
This headline figure marked the strongest improvement in business conditions in the non-energy private sector since July 2022 and was above the long-term trend.
The report noted that new incoming work expanded at the fastest rate in 13 months, with significant growth in manufacturing and construction and sharp growth in other sectors. Despite the rising demand for goods and services, companies managed to further reduce the volume of outstanding work in June.
Companies attributed positive forecasts to new branch openings, acquiring new customers, and marketing campaigns. Prices for goods and services fell for the sixth time in the past eight months as firms offered discounts to boost competitiveness and attract new customers.
Qatari financial services companies also recorded further strengthening in growth, with the Financial Services Business Activity and New Business Indexes reaching 13- and nine-month highs of 61.1 and 59.2, respectively. These levels were above the long-term trend since 2017.
Yousuf Mohamed Al-Jaida, QFC CEO, said the June PMI index was higher than in all pre-pandemic months except for October 2017, which was 56.3. “Growth has now accelerated five times in the first half of 2024 as the non-energy economy has rebounded from a moderation in the second half of 2023,” he said.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
