KPMG Saudi Arabia establishes Research and Economic Studies unit in Riyadh

01 June 2018

KPMG’s Saudi Arabian member firm KPMG Al Fozan & Partners has set up a new Research and Economic Studies centre. The move comes as a response to the Saudi Vision 2030 and aims to provide important insight into various aspects of the Saudi economy to help promote international investment.

The new unit will conduct research and publish general studies relating to the Saudi economy and also provide investors with in-depth analysis into specific sectors. The Research and Economic Studies centre will also provide advice to clients about the Saudi investment climate and indicators relevant to the Vision 3030 agenda and potential impacts on the economy.

Chief Economist at KPMG Saudi Arabia, Hussein Abusaaq, will take on the position as Head of the Research and Economic Studies unit. Abusaaq holds a PhD in Economics from the University of Florida as well as two Master’s Degrees in Financial Engineering and Financial Economics from the USA.

Last year, Abusaaq also spent time at Harvard Kennedy School studying public policy and executive leadership skills, and has also completed a BA in Information Systems Management with Honours from King Fahd University of Petroleum and Minerals.

Prior to joining KPMG, Abusaaq had served as an Economic Expert at the Ministry of Economy and Planning since 2016. He has also worked with the Saudi Arabian Monetary Agency (SAMA) between 2004 and 2015 in a number of positions, including most recently, as a senior economist.KPMG Saudi Arabia establishes Research and Economic Studies unit in Riyadh.Abusaaq said; “The unit will provide valuable studies related to the investment climate and analysis of economic indicators. It shall also keep track of and examine economic changes and assess all new developments taking place at the local level, including plans, policies and trends related to the economic policy in the Kingdom.”

Abdullah Al-Fozan, chairman of KPMG MESA and KPMG Saudi Arabia, said in relation to the new unit; “Establishing this valuable unit coincides with the economic, investment, and development boom being witnessed by the Kingdom, in line with the Saudi Vision 2030 and its proposed programmes; which is set to make Saudi Arabia a key attractive destinations for investments in the region and the world.” 

New headquarters

KPMG Al Fozan & Partners is the Saudi Arabian arm of the global professional services and advisory firm which specialises in audit, tax and advisory. The firm established itself in the Kingdom in 1992 and has since grown to host over 1200 professionals in the country. As a result of this substantial growth, the firm recently signed an agreement to establish its new headquarters in the Business Front project in Riyadh. The new headquarters covers over 11000 m2 and will contribute to creating a unique work environment for KPMG Saudi Arabia’s employees and clients.

“KPMG in Saudi Arabia has established itself as a leading professional services firm in Audit, Tax and Advisory services using professionals with international expertise and a team of national talent who understand the nature and needs of the Saudi market,” said Khalil Al Sedais, Managing Partner of KPMG’s office in Riyadh. “The new headquarters will provide an unique work environment for our employees and provide a rich experience for our clients. The number of KPMG employees in Riyadh is currently around 800, and we aim to increase this number to 1,500 employees during the next five years.”


Global strategy consultancy CVA launches first Middle East office in Dubai

10 April 2019

The boutique global strategy consultancy Corporate Value Associates has launched an office in Dubai – to be led by 20-year consulting veteran Olivier Staub.

Global strategy consulting firm Corporate Value Associates (CVA) has launched its first Middle East office in Dubai, adding to its existing network of 17 offices across Europe, the US and Asia Pacific. The new office will be led by Olivier Staub, a strategy consulting veteran with over 20 years of international consulting and business development experience – the last 14 of those based out of Dubai.

Established in 1987, CVA has grown to a team of more than 250 advisors worldwide, serving  clients with strategy needs across multiple sectors, including energy & utilities, financial services, mining & materials, TMT, transportation and defence. Recently, the consultancy was named by Decideurs Magazine as among the top strategy consulting firms to the industrials segment in France.

The launch of its first Middle East office is a significant step for CVA, which places a particular emphasis on its global network. “We ensure that learnings from work in one country are quickly disseminated to others – best practices are transferred not just between industry practices, but also across geographies. Global staffing and training guarantee there is one global standard: the CVA standard,” the firm states.Global strategy consultancy CVA launches first Middle East office in DubaiJoined by CVA founder Paul-Andre Rabate and Paris-based partner Carole Ott for its inauguration, Staub will head up the Dubai office after a brief stint at fellow boutique consultancy Emerton, before which he served for four years as a partner with local strategy firm Novo Management Partners. Earlier in his career, Staub spent seven years with Oliver Wyman, and initially started out as a consultant with Deloitte in Paris.

Over the course of his career, Staub has amassed experience in over 20 countries in Europe, the Middle East, Africa and Asia, with functional expertise in corporate and growth strategy, M&A and due diligence, turnaround programmes and programme management, organisational design, and corporate governance among other areas. He also co-founded e-commerce company Neodirect in Paris, serving as its business development director for three years.

Staub joins Sami Grouz in the broader MENA region, who has led the firm’s Casablanca office since the middle of last year, and will be supported in the new UAE venture by Thomas Fabbes, an Oxford graduate in Materials Science who has been with CVA’s London office since September. According to the firm, its junior consultants are ‘hand-picked’ from the only the top universities and schools around the world – with the firm currently in the middle of a recruitment drive.

CVA founder and Managing Partner Paul-Andre Rabate himself received a doctoral degree in Business Economics from Harvard University, joining BCG in 1978 before co-founding strategy consultancy Mars & Company in France the following year prior to establishing CVA. “CVA has always been a global boutique and this new office opens the door to exciting challenges in the Middle-East,” the firm stated on LinkedIn. “Olivier, we wish you the best of luck in this central region.”