As the Middle East financial market continues to develop, Latham & Watkins has responded by strengthening its Dubai office with the appointment of securities lawyer Maysa Ibrahim.

Ibrahim joins the firm from White & Case's London office, where she spent four years advising clients such as Citibank and Deutsche Bank on debt obligations and other structured products. As counsel in the Dubai office, Ibrahim will utilise established businesses connections in building the firm's global derivatives and securitisation practices.

"Maysa is a very experienced finance lawyer. She has strong ties to this region," said Bryant Edwards, Middle East Office managing partner. "Her Iraqi background and language skills, and her knowledge of the Emirates that run the sovereign wealth funds and other funds in the region make her a strong addition."

The news comes as the financial markets in the Middle East continue to expand, notably in the banking and corporate industries. NASDAQ Dubai last month listed equity derivatives for the first time, while three foreign banks - Deutsche Bank, Mitsubishi UFJ Financial Group and Industrial & Commercial Bank of China - were granted wholesale banking licences on 15 December. The move will see the banks establish a presence across the UAE, providing an avenue of new work for law firms in the region.

Edwards confirmed that the appointment follows the firm's focusing on the emerging financial markets.

"We've watched the development of the derivatives market in NASDAQ Dubai, and gaining a structured finance lawyer will help us with those new and developing markets here," he said.

However, Edwards did not feel that Ibrahim's move specifically reflects on the state of the London markets, which have been affected by the financial downturn. "Rather, I think it's more a reflection of the Middle East market developing; it's clear that the markets all over the world are depressing," he said. "We hire not for the next year but for next 10 or 15 years."