McGuireWoods recently signed an agreement with a small law firm in Saudi Arabia that will give it an unofficial presence and more visibility in the oil rich state.
Known as a cooperation agreement, the arrangement formally gives McGuireWoods a place to which it can refer clients should they need legal assistance in that part of the world. Likewise, McGuireWoods can pick up Saudi Arabian clients when they need counsel in places where it operates.
McGuireWoods, headquartered in downtown Richmond, has similar agreements with firms in Israel and France.
“Using these types of agreements is a much simpler way for us to provide services to our clients in countries where we don’t have offices,” said Tom Cabaniss, managing partner at McGuireWoods.
Cabaniss said the agreements are also a way for the firm to grow globally without having the cost of putting down roots in faraway places.
“Opening an office is fairly expensive and something we don’t do without giving a lot of thought and consideration,” Cabaniss said. “We want to be sure that we are going to be successful, and this is a more preferable way to expand our reach.”
The agreement with the Saudi firm, the Law Firm of Badr Alarishi, was first reported by a London legal publication called the Lawyer.
McGuireWoods, headquartered in downtown Richmond, has offices overseas in both London and Brussels. It has about 50 lawyers in London and 12 in Brussels.
The firm brought in $599.5 million in gross revenue in 2012, according to a recent report. It has more than 600 full-time employees, including 224 attorneys in Richmond.