Lazard’s UAE Expansion: A Strategic Pivot to MENA’s Financial Horizon

The financial advisory firm Lazard has taken a bold step to deepen its footprint in the Middle East and North Africa (MENA) region, announcing in April 2025 the establishment of a new Abu Dhabi office to serve as its UAE headquarters. This move, pending regulatory approval, positions Lazard to capitalize on the UAE’s emergence as a global financial hub and underscores the growing strategic importance of the MENA region in the global economy.

The UAE as a Strategic Hub

Lazard’s decision to anchor its UAE operations in Abu Dhabi reflects the emirate’s role as a geopolitical and economic linchpin in the Gulf. Unlike Dubai, which dominates trade and commerce, Abu Dhabi’s focus on financial services and institutional stability has attracted major international firms. The firm’s new office will offer mergers and acquisitions (M&A), capital markets, restructuring, and geopolitical advisory services, tailored to institutions, governments, and high-net-worth individuals in the region.

Central to this expansion is the appointment of Hussain Altajir as CEO of Lazard Financial Advisory in the UAE. With over two decades of regional experience, including a 22-year tenure at HSBC as Head of Dubai Coverage, Altajir brings deep local knowledge. His academic background—earning a BSBA in Finance & Banking from the American University of Dubai—highlights his integration into the UAE’s financial ecosystem. Altajir will collaborate with Wassim Al Khatib, CEO of Lazard’s MENA Financial Advisory division, to strengthen client relationships and expand service offerings.

Debt Solutions and Partnership with Arini Capital

Lazard’s MENA strategy extends beyond advisory services. In March 2025, the firm partnered with Arini Capital Management to launch a direct lending initiative targeting mid-cap companies across Europe, the Middle East, and Africa (EMEA). This alliance combines Lazard’s deal origination capabilities with Arini’s credit underwriting expertise, focusing on sectors like infrastructure, healthcare, and technology. Backed by institutional investors such as the British Columbia Investment Management Corporation (BCI), the initiative signals Lazard’s commitment to private credit solutions—a growing demand in the region amid infrastructure development and economic diversification.

The partnership aligns with Lazard’s “Lazard 2030” strategic plan, which prioritizes debt advisory and asset management diversification. This move is particularly timely as the UAE and Saudi Arabia accelerate projects under Vision 2030 and 2030 initiatives, respectively, requiring structured financing.

Financial Context: AUM Trends and Investor Sentiment

Lazard’s first-quarter 2025 financial results, due on April 25, will provide critical insight into the firm’s current performance. As of March 2025, Lazard’s assets under management (AUM) stood at $227.4 billion, with equity and fixed income segments showing slight declines amid market volatility. However, its private credit AUM rose 12% year-over-year, reflecting demand for alternative solutions—a trend likely bolstered by its MENA expansion.

Risks and Opportunities

While the UAE’s economic diversification—projected to sustain 4.5% GDP growth in 2025—offers vast opportunities, geopolitical risks persist, including regional tensions and global energy market fluctuations. Lazard’s advisory services will need to navigate these complexities, leveraging its geopolitical expertise. Additionally, regulatory approvals for the Abu Dhabi office remain a near-term hurdle.

Conclusion

Lazard’s UAE expansion is a calculated bet on the MENA region’s economic potential. By combining Altajir’s local expertise with its global advisory platform and debt solutions through the Arini partnership, Lazard positions itself as a critical player in a market undergoing rapid transformation.

The firm’s success hinges on its ability to balance geopolitical risks with the region’s infrastructure and tech-driven growth. With the UAE’s AUM in private equity and debt expected to grow 18% by 2027, Lazard’s move is both strategic and timely. Investors will closely watch its Q1 results and regulatory progress to gauge the long-term viability of this pivot.

In sum, Lazard’s UAE foray reflects a broader trend of financial institutions doubling down on MENA’s economic renaissance—a bet that could yield significant returns if geopolitical stability and fiscal policies align.