### WTW’s Full Control in the UAE: A New Chapter
In a significant shift for the global advisory landscape in the United Arab Emirates (UAE), WTW—a leading global advisory and broking firm—has acquired full ownership of its UAE operations by purchasing a majority stake from Al-Futtaim. This shift marks the end of a profitable partnership with one of the region’s largest conglomerates, which began over fifty years ago.
### A Rich Legacy with Al-Futtaim
WTW’s journey in the UAE began in 1976 through a joint venture with Al-Futtaim, operating under the name Al-Futtaim Willis. Over the decades, this joint venture has thrived, utilizing the strengths of both companies. With a workforce of around 130 employees spread across offices in Dubai and Abu Dhabi, Al-Futtaim Willis became synonymous with trust and expertise in the local market.
### Details of the Acquisition
On the morning of the announcement, both WTW and Al-Futtaim confirmed the closure of the deal, which involves Al-Futtaim selling its entire 51% stake to WTW for an undisclosed amount. This strategic move empowers WTW to manage its UAE operations independently, allowing for more agile decision-making and tailored service offerings.
### Insights from WTW Leadership
Pamela Thomson-Hall, the Head of International at WTW, expressed gratitude for the longstanding relationship with Al-Futtaim, saying, “We are fortunate to have enjoyed a prosperous relationship… Our ability to now wholly manage our businesses in the UAE on a go-forward basis will enable us to provide clients… improved access to our specialist expertise.” This sentiment underscores WTW’s commitment to enhancing client experiences by streamlining operations.
### Commitment to Enhanced Client Services
Alongside Thomson-Hall’s insights, Eleni Lykoudi, responsible for overseeing WTW’s Middle East region, remarked on the advantages of integrating Al-Futtaim Willis into WTW’s global framework. She stated, “The integration… will allow our local, regional, and global clients to access WTW’s entire portfolio.” This new approach signifies WTW’s dedication to strengthening its value proposition through specialized services.
### Expansion into the Saudi Market
This development comes on the heels of WTW’s initiatives to expand its footprint in the Middle East, especially in Saudi Arabia. Recent endeavors include establishing insurance and reinsurance broking entities, further solidifying WTW’s position as a key player in the regional market.
### Global Presence of WTW
Globally, WTW operates with a workforce of around 50,000 employees, delivering services across 140 countries. This extensive network enables the company to leverage global expertise while offering individualized solutions tailored to local markets.
### Looking Ahead
With this full ownership, WTW is not only poised to improve its service delivery in the UAE but is also set to leverage its global resources to foster strong relationships with its clients. The focus will shift towards providing enhanced risk consulting, insurance brokerage, and global placement capabilities, marking an exciting new era for WTW in the Middle East.
