Oryx, the new legal start-up in the UAE
On December 6th, Oryx launched in the UAE – a consultancy shaking up the industry with both a fixed-fee and a fractional approach. More than 30 clients engaged demonstrates the pent-up demand for flexible models from top tier institutional financial and corporate organisations.
Oryx Law was established by Natalie Boyd in the UK in 2018 working mostly with clients in the Middle East. The global success of the model led her to establish Oryx Legal Consultants in the UAE, licensed onshore in Abu Dhabi, together with co-founder Vanessa Abernethy. The pair are in the process of opening an office in Dubai.
“Since establishing the office in July, our team has already handled deals in excess of USD1 billion. We have seen huge demand for both of our service models, both from the UAE and the wider region, which is a clear sign the industry was ready for a change,” commented Natalie Boyd, co-founder.
For large institutions looking for dedicated support on a specific transaction, a senior Oryx consultant works directly with the internal team and concerned parties, which might be other law firms or international institutions. This provides the continuity of a senior partner level lead on the transaction at all times for a fixed fee.
Additionally, clients can engage Oryx as in-house general counsel on a fractional basis. Working with the founders to assess their requirements, Oryx can act as general counsel for a specified number of days per week rather than full time, often working remotely. This gives the organisation access to strategic counsel for its senior team, without adding headcount.
Oryx also consults on services such as IPO readiness and boardroom solutions, including addressing diversity imbalance at director level.
“The global shift in how remote working and fractional services are perceived has driven massive demand for more flexible solutions, especially from clients in this region. The recent visa changes in the UAE are also accelerating the speed at which I predict this model will grow, with senior advisors no longer needing the infrastructure of a large law firm as an employer” commented Vanessa Abernethy, co-founder of Oryx.
At the end of the first quarter of operations, Oryx has more than 30 institutional clients composed of top tier Middle Eastern, US, UK and EU banks, asset management firms, funds, corporates, family offices and law firms, most of which have a global presence.
“Working with Oryx gives me the reassurance that I always have direct contact with a senior expert who is invested in a long-term relationship with our company. I know work will not be handed to a junior member of the team” noted Vishal Srivastava, head of investments, Tawuniya “It gives me the ability to think more flexibly about legal cost and to focus on developing internal talent and business growth whilst not jeopardising the quality of legal counsel that I am able to access.”
“As Chair of 100 Women in Finance Middle East Chapter, we are really pleased with initiatives taken by Oryx, offering flexible working models encouraging professional women to return to senior roles. Fractional General Counsel services offered by Oryx is a perfect set up for executive women to maintain and grow their careers enabling them to stay in the workforce longer. We look forward to supporting Oryx”, said Saleha Osmani, Chair, 100 Women in Finance (Middle East Chapter).
