Saudi Ministry of Investment hands RHQ license to FTI Consulting

27 February 2024 Consultancy-me.com 3 min. read

Saudi Arabia’s government has handed a Regional Headquarters License (RHQ) to FTI Consulting, adding one of the world’s most renowned global consulting firms to the growing list of industry players committing to the Saudi market.

Headquartered in the US, FTI Consulting is one of the globe’s largest management consulting firms, with more than 7,900 employees in 30+ countries. The firm has been active in the Middle East for over two decades, with its Saudi office in Riyadh a key part of its four-strong office network in the region.

“We are delighted to have been issued an RHQ license for our Riyadh office,” said Vikas Papriwal, a Senior Managing Director and Head of FTI Consulting in the Middle East and Africa. “It’s an exciting milestone that reflects our longstanding work with clients in the Kingdom.”

Saudi Ministry of Investment hands RHQ license to FTI Consulting

Launched in 2021, Saudi Arabia’s regional headquarters program aims to attract multinational companies to set up their headquarters in Saudi Arabia and position the kingdom as a leading commercial, industrial and investment hub for the MENA region. Effective since the 1st of January 2024, having a regional headquarters is beneficial for conducting business with state bodies, and provides special tax incentives.

Papriwal said that the fresh RHQ license will position FTI Consulting for further growth in the Kingdom. “Our regional office will be a catalyst for further investment in our world-class services to support the ambitious goals of our clients as the Kingdom and the wider region transforms.”

Lars Faeste, EMEA Chairman at FTI Consulting, welcomed the milestone stating: “Attaining our RHQ license is an important step in the development of our capabilities in and around the Kingdom, where we are supporting clients with their major projects. Our investment in our people, including in Saudi talent, will be the driving force behind our future success as we build on this momentum.”

In Saudi Arabia, FTI Consulting provides the full suite of its services portfolio, including strategy consulting, construction solutions, corporate finance, data privacy, expert witness, financial crime management, forensic and digital investigations, public sector advisory, economic consulting and strategic communications.

The RHQ license also applies for the firm’s different labels: FTI Delta (strategy consulting), FTI Capital Advisors (mergers & acquisitions) and Compass Lexecon (economics consulting).

FTI Consulting joins a growing list of global consultancies that have setup a regional headquarters in Saudi Arabia, keen on contributing to the vibrant government and business landscape. On the back of massive investments flowing out of Vision 2030, Saudi Arabia is home to the region’s most ambitious growth and transformation plans. The country is now the world’s 19th economy – with further growth expected in the years ahead.