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Tue 1 May 2018 01:43 PM

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Dubai's Lumina announces Saudi expansion plan

Specialist corporate finance firm appoints former PwC Saudi senior exec to lead operations

Dubai's Lumina announces Saudi expansion plan
Rick Pudner, executive chairman of Lumina and former CEO of Emirates NBD.

Specialist corporate finance firm Lumina, headed by former Emirates NBD CEO Rick Pudner, has announced expansion into Saudi Arabia.

Andrew Nichol, who previously served as head of corporate finance for PwC in Saudi Arabia, has been appointed as a partner to enable Lumina to link three major markets – Saudi Arabia, the UAE, and the UK – for capital flows and M&A deals.

Regulated by the Dubai Financial Services Authority, Lumina provides services focused on M&A, equity capital, debt advisory, and infrastructure project financing.

Pudner, executive chairman, said: “The firm has a niche specialism within family business M&A and corporate finance, and we have seen significant demand across the Middle East region for senior level, on the ground corporate finance advisory services.

"With the addition of Saudi Arabia, and our recent UK presence, we are delighted to have progressed so quickly toward our goal of linking Saudi Arabia, UK and the UAE for our clients.”

With the Saudi market undergoing an intense period of social and economic transformation, investors have identified the long-term growth potential of the kingdom, he added.

Saudi Arabia’s economic agenda aims to raise the private sector contribution from 45 percent to 60 percent of GDP, which is expected to drive M&A activity across the kingdom.

Nichol said: “Saudi Arabia’s ambitious Vision 2030 plan will, ultimately, impact almost all aspects of socio-economic life within the kingdom. It will transition the country away from oil dependence and into a global trade and commerce centre, linking Europe, Asia and Africa.

"I look forward to continuing to identify and execute transactions for our clients by connecting inward global investors and helping our Saudi clients achieve their objectives internationally.”

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