Dubai’s expanding financial services sector needs lawyers to grease its wheels.

“There is an ever-increasing demand for financial lawyers in Dubai,” says Nicholas Lloyd, managing director of executive search firm Hogarth Davies Lloyd. “There is a significant amount of work emanating from within the region which in turn has seen more and more law firms setting up in the region.”

In previous years, most of the legal work in Dubai was handled by firms with some history in the region, such as Trowers and Hamlins. But increased workloads, and the spiralling revenue potential, are attracting leading European organisations such as Clifford Chance.

Clyde & Co opened an office in Qatar this month, having poached a partner from rival Simmons & Simmons. The company is said to be looking for additional staff in the region, as are banks themselves as they endeavour to establish in-house legal teams.

James Mackenzie, managing director of recruiters Mackenzie Executive Search, says the ideal candidate would be a fully qualified commercial lawyer with experience of international jurisdiction issues.

But, as is common in the Gulf’s employment market, firms don’t want people without experience.

Lloyd says companies are typically looking for lawyers with between four and seven years of relevant experience, and the right candidate can expect to earn a net base salary of between US$150k and US$220k, with a 40% to 80% bonus on top of that.