Deloitte Middle East Strengthens Financial Advisory Practice by Expanding Team with Expert Additions

Middle East, 21 December 2023 – Deloitte Middle East announces expert additions and leadership changes within its Turnaround & Restructuring, Value Creation Services, and Forensic businesses, reaffirming its commitment to delivering high-quality Financial Advisory services across the region.

Strengthening Financial Advisory 

Haroon Ahmed joins as Partner in the Turnaround & Restructuring practice, leveraging his expertise as a registered insolvency practitioner in the UAE, strengthening the firm’s capabilities in executing turnaround strategies and delivering insolvency services.

Alexios Zachariadis joins as Partner in the Value Creation Services team, specializing in Energy, Resources, and Industrials. He focuses on M&A strategy, commercial advisory and business optimization to support his clients’ growth, expansion and transformation activities. With extensive experience, Alexios brings a wealth of local, regional and global expertise, having collaborated with clients in the Middle East and across the globe.

Mahmoud Abougabal, a construction expert with over 16 years’ experience in the GCC and the wider Middle East region, joins the Deloitte Forensic team as Partner. Mahmoud has a robust background as a construction delay expert, providing insights for litigation and arbitration. Mahmoud's work involves collaboration with employers and contractors during the construction project delivery phase, focusing on extension of time claims preparation for contractors and their evaluation on behalf of employers. 

Wayne Thomas, Financial Advisory Managing Partner at Deloitte Middle East, commented, "We are delighted to continue expanding our leadership team and value the expertise and industry-specific knowledge Haroon, Alexios and Mahmoud bring to our Financial Advisory practice. The region is witnessing extensive transformation, leading to economic diversification, along with ambitious and exciting visions for the future. Our team with collective experience, spanning various sectors and regions, reinforces our commitment to providing tailored solutions that drive value and navigate complexities effectively.” 

Leadership Transition in Turnaround & Restructuring

Paul Leggett, Partner in our Turnaround & Restructuring team, serving clients across the UK, the Caribbean, and the Middle East, has taken up leadership of the Turnaround & Restructuring practice from David Stark who will be retiring from Deloitte during 2024 after over 30 years with the firm. Paul is well-versed in turnaround situations, contingency planning, and insolvency, holding qualifications in the UK insolvency and registrations as a liquidator in both the Abu Dhabi Global Market and Dubai International Financial Centre. He is also actively involved in various UAE insolvency roles.

Paul Leggett said, “I am honored to lead the Turnaround & Restructuring practice at Deloitte Middle East. The recent announcement of revised UAE regulations, alongside the success of the KBBO case, has reignited interest among debtors and creditors in leveraging court mechanisms for resolving complex cases. Moreover, the increasing adoption of insolvency laws in KSA has amplified international interest in the Middle East region as a whole.”